Automatic Data Processing (ADP) Receives Consensus Recommendation of “Hold” from Brokerages
Automatic Data Processing (NYSE:ADP) has earned a consensus rating of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $98.08.
A number of analysts have recently issued reports on ADP shares. Argus reduced their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Evercore ISI cut shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price for the company. in a research note on Friday, June 2nd. Barclays PLC restated a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. Finally, BMO Capital Markets restated a “hold” rating and set a $98.00 price target on shares of Automatic Data Processing in a research note on Wednesday, April 5th.
Automatic Data Processing (NYSE:ADP) traded up 1.29% during trading on Tuesday, hitting $103.49. The stock had a trading volume of 3,572,702 shares. The stock’s 50-day moving average is $100.22 and its 200 day moving average is $101.20. Automatic Data Processing has a one year low of $85.23 and a one year high of $105.68. The firm has a market cap of $46.30 billion and a price-to-earnings ratio of 26.78.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.42 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS. Equities analysts anticipate that Automatic Data Processing will post $3.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Wednesday, June 7th.
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In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the sale, the chief executive officer now owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Institutional investors have recently added to or reduced their stakes in the stock. Coconut Grove Bank boosted its stake in Automatic Data Processing by 79.6% in the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after buying an additional 460 shares during the period. Grisanti Capital Management LLC boosted its stake in Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after buying an additional 45 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Automatic Data Processing during the first quarter worth approximately $113,000. Zions Bancorporation boosted its stake in Automatic Data Processing by 3.1% in the fourth quarter. Zions Bancorporation now owns 1,224 shares of the business services provider’s stock worth $126,000 after buying an additional 37 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $132,000.
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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