Robert W. Baird restated their neutral rating on shares of Automatic Data Processing (NYSE:ADP) in a research note published on Sunday, July 30th. The firm currently has a $95.00 price target on the business services provider’s stock.
Other analysts have also recently issued research reports about the company. Barclays PLC reiterated a buy rating on shares of Automatic Data Processing in a research report on Thursday, April 27th. BMO Capital Markets restated a hold rating and issued a $98.00 price target on shares of Automatic Data Processing in a report on Wednesday, April 5th. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a buy rating to a neutral rating and lowered their price target for the company from $115.00 to $108.00 in a report on Tuesday, June 20th. BidaskClub cut Automatic Data Processing from a buy rating to a hold rating in a report on Wednesday, July 12th. Finally, Evercore ISI restated an underperform rating and issued a $85.00 price target on shares of Automatic Data Processing in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Automatic Data Processing presently has an average rating of Hold and an average price target of $105.35.
Automatic Data Processing (ADP) traded down 0.1186% during trading on Friday, reaching $104.5559. 2,778,603 shares of the company’s stock were exchanged. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The firm has a market capitalization of $46.46 billion and a price-to-earnings ratio of 27.1574. The stock has a 50-day moving average price of $107.10 and a 200 day moving average price of $102.80.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 EPS. Equities research analysts forecast that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.
WARNING: This piece was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/08/18/robert-w-baird-reaffirms-neutral-rating-for-automatic-data-processing-adp-updated-updated.html.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, September 7th.
In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael A. Bonarti sold 2,932 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the sale, the insider now directly owns 46,256 shares in the company, valued at $4,717,186.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,620 shares of company stock worth $9,435,757.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of 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. Janus Henderson Group PLC increased its position in shares of Automatic Data Processing by 5,962.5% in the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock worth $411,260,000 after buying an additional 3,947,657 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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. Fundsmith LLP increased its position in shares of Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after buying an additional 1,164,972 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Automatic Data Processing by 671.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock worth $127,574,000 after buying an additional 1,083,799 shares during the last quarter.
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.
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.
