Automatic Data Processing (NASDAQ:ADP) Hits New 1-Year High at $200.39

Automatic Data Processing, Inc. (NASDAQ:ADP) shares hit a new 52-week high on Wednesday . The company traded as high as $200.39 and last traded at $199.83, with a volume of 1982 shares changing hands. The stock had previously closed at $198.88.

ADP has been the topic of a number of research reports. Jefferies Financial Group upped their target price on Automatic Data Processing from $197.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, March 24th. Mizuho upped their target price on Automatic Data Processing from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, May 27th. They noted that the move was a valuation call. Citigroup increased their price objective on Automatic Data Processing from $190.00 to $212.00 in a report on Monday, May 3rd. Morgan Stanley increased their price objective on Automatic Data Processing from $171.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, April 29th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on Automatic Data Processing from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $177.81.

The company has a market capitalization of $85.13 billion, a PE ratio of 34.67, a P/E/G ratio of 2.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50-day moving average of $193.55.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Tuesday, April 27th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Automatic Data Processing had a return on equity of 44.23% and a net margin of 16.88%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 5.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be given a $0.93 dividend. The ex-dividend date is Thursday, June 10th. This represents a $3.72 annualized dividend and a dividend yield of 1.86%. Automatic Data Processing’s dividend payout ratio is 62.84%.

In other news, VP Sreenivasa Kutam sold 4,583 shares of the stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $200.00, for a total value of $916,600.00. Following the completion of the sale, the vice president now directly owns 5,041 shares of the company’s stock, valued at $1,008,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Deborah L. Dyson sold 500 shares of the stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $188.72, for a total value of $94,360.00. Following the completion of the sale, the vice president now directly owns 24,686 shares of the company’s stock, valued at $4,658,741.92. The disclosure for this sale can be found here. Insiders sold 6,975 shares of company stock valued at $1,374,522 over the last three months. 0.34% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of ADP. Norges Bank bought a new position in Automatic Data Processing in the fourth quarter worth $651,769,000. Nuveen Asset Management LLC raised its stake in Automatic Data Processing by 61.3% during the fourth quarter. Nuveen Asset Management LLC now owns 2,736,608 shares of the business services provider’s stock worth $482,190,000 after acquiring an additional 1,039,561 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Automatic Data Processing by 101.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,876,723 shares of the business services provider’s stock worth $330,712,000 after acquiring an additional 945,119 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Automatic Data Processing by 50.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,649,392 shares of the business services provider’s stock worth $499,331,000 after acquiring an additional 891,869 shares in the last quarter. Finally, American International Group Inc. raised its stake in Automatic Data Processing by 254.5% during the fourth quarter. American International Group Inc. now owns 1,235,475 shares of the business services provider’s stock worth $217,691,000 after acquiring an additional 886,996 shares in the last quarter. 79.29% of the stock is owned by hedge funds and other institutional investors.

About Automatic Data Processing (NASDAQ:ADP)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

Read More: What is the accumulation/distribution indicator?

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.