Citigroup reiterated their neutral rating on shares of Automatic Data Processing (NASDAQ:ADP) in a research report sent to investors on Friday, January 12th, MarketBeat.com reports. The brokerage currently has a $118.00 target price on the business services provider’s stock, up from their previous target price of $110.00.
A number of other analysts have also issued reports on ADP. Zacks Investment Research lowered Automatic Data Processing from a buy rating to a hold rating in a report on Wednesday, January 10th. BidaskClub upgraded Automatic Data Processing from a hold rating to a buy rating in a report on Thursday, September 28th. Bank of America boosted their price target on Automatic Data Processing from $111.00 to $114.00 and gave the company a neutral rating in a report on Friday, October 13th. Stifel Nicolaus reiterated a hold rating and issued a $108.00 price target on shares of Automatic Data Processing in a report on Wednesday, October 4th. Finally, Royal Bank of Canada restated a hold rating and set a $95.00 target price on shares of Automatic Data Processing in a report on Friday, September 15th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $118.64.
Shares of Automatic Data Processing (ADP) traded down $1.85 during midday trading on Friday, hitting $118.57. The company had a trading volume of 2,900,000 shares, compared to its average volume of 1,690,000. The company has a quick ratio of 1.10, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $51,780.00, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. Automatic Data Processing has a 12-month low of $95.50 and a 12-month high of $125.24.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. Automatic Data Processing’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. equities research analysts anticipate that Automatic Data Processing will post 4.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. Automatic Data Processing’s dividend payout ratio is currently 65.28%.
In other news, VP Donald Weinstein sold 3,242 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total transaction of $405,250.00. Following the completion of the sale, the vice president now owns 28,366 shares in the company, valued at approximately $3,545,750. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Maria Black sold 1,786 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $119.72, for a total value of $213,819.92. Following the sale, the vice president now owns 11,858 shares of the company’s stock, valued at approximately $1,419,639.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,767 shares of company stock valued at $17,801,722. 0.25% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of ADP. Huntington National Bank increased its position in shares of Automatic Data Processing by 3.6% in the 4th quarter. Huntington National Bank now owns 435,196 shares of the business services provider’s stock valued at $51,001,000 after acquiring an additional 15,010 shares during the period. Delaney Dennis R increased its position in shares of Automatic Data Processing by 21.9% in the 4th quarter. Delaney Dennis R now owns 26,170 shares of the business services provider’s stock valued at $3,066,000 after acquiring an additional 4,700 shares during the period. Harbour Investment Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $2,723,000. Charter Research & Investment Group Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $274,000. Finally, Notis McConarty Edward increased its position in shares of Automatic Data Processing by 6.8% in the 4th quarter. Notis McConarty Edward now owns 53,577 shares of the business services provider’s stock valued at $6,279,000 after acquiring an additional 3,415 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.
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Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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