Automatic Data Processing (NASDAQ:ADP) Price Target Lowered to $315.00 at UBS Group

Automatic Data Processing (NASDAQ:ADP) had its price target cut by UBS Group from $323.00 to $315.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, TD Securities boosted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $306.82.

Automatic Data Processing Trading Down 0.9%

Shares of NASDAQ:ADP opened at $306.82 on Friday. Automatic Data Processing has a 12-month low of $231.27 and a 12-month high of $329.93. The stock has a market cap of $124.55 billion, a PE ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79. The business has a 50 day moving average of $308.06 and a 200-day moving average of $302.91. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the company posted $2.88 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Automatic Data Processing will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Automatic Data Processing by 0.5% during the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock worth $12,511,418,000 after buying an additional 218,614 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock worth $3,098,305,000 after buying an additional 65,965 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after buying an additional 902,354 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after buying an additional 601,400 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Company Profile

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