Other equities research analysts also recently issued reports about the stock. Goldman Sachs Group, Inc. (The) downgraded shares of Automatic Data Processing from a buy rating to a neutral rating and lowered their target price for the company from $115.00 to $108.00 in a report on Tuesday, June 20th. Barclays PLC restated a buy rating on shares of Automatic Data Processing in a report on Thursday, April 27th. Stifel Nicolaus restated a hold rating and issued a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Royal Bank Of Canada boosted their target price on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a sector perform rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Automatic Data Processing from a hold rating to a buy rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of Hold and a consensus target price of $104.96.
Shares of Automatic Data Processing (ADP) traded down 0.08% during trading on Wednesday, hitting $108.81. 4,639,179 shares of the stock traded hands. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The firm has a market cap of $48.35 billion and a PE ratio of 28.26. The company’s 50 day moving average is $106.27 and its 200 day moving average is $102.61.
Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing will post $3.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.10%.
In other news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the transaction, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at $16,114,340. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $197,127.34. Following the transaction, the vice president now directly owns 25,737 shares in the company, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,620 shares of company stock worth $9,435,757.
Several hedge funds and other institutional investors have recently bought and sold shares of ADP. BlackRock Inc. boosted its position in Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after buying an additional 28,201,085 shares during the last quarter. Vanguard Group Inc. boosted its position in Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after buying an additional 1,430,863 shares during the last quarter. American Century Companies Inc. boosted its position in Automatic Data Processing by 51.1% in the first quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock worth $276,227,000 after buying an additional 912,528 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Automatic Data Processing by 80.5% in the second quarter. Parametric Portfolio Associates LLC now owns 1,725,711 shares of the business services provider’s stock worth $176,816,000 after buying an additional 769,568 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in Automatic Data Processing by 59.3% in the second quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock worth $180,972,000 after buying an additional 657,209 shares during the last quarter.
About Automatic Data Processing
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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