Automatic Data Processing (ADP) Receives $120.45 Consensus Target Price from Brokerages

Automatic Data Processing (NASDAQ:ADP) has earned a consensus recommendation of “Hold” from the seventeen analysts that are covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $121.33.

Several equities research analysts recently weighed in on ADP shares. Goldman Sachs raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.02 to $135.00 in a research report on Monday, December 11th. Royal Bank of Canada reissued a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a report on Monday, February 5th. BidaskClub raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, Citigroup reissued a “neutral” rating and issued a $118.00 target price (up previously from $110.00) on shares of Automatic Data Processing in a report on Friday, January 12th.

How to Become a New Pot Stock Millionaire

In other news, CEO Carlos A. Rodriguez sold 69,899 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total value of $7,848,958.71. Following the completion of the transaction, the chief executive officer now owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Maria Black sold 1,786 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $119.72, for a total value of $213,819.92. Following the completion of the transaction, the vice president now directly owns 11,858 shares of the company’s stock, valued at approximately $1,419,639.76. The disclosure for this sale can be found here. Insiders sold 112,047 shares of company stock valued at $12,966,391 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ADP. Pershing Square Capital Management L.P. boosted its holdings in shares of Automatic Data Processing by 402.5% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after buying an additional 7,047,575 shares in the last quarter. Polen Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 1.5% in the 4th quarter. Polen Capital Management LLC now owns 6,915,960 shares of the business services provider’s stock worth $810,481,000 after purchasing an additional 102,031 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 5,214,470 shares of the business services provider’s stock worth $609,928,000 after purchasing an additional 103,129 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Automatic Data Processing by 42.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,993,394 shares of the business services provider’s stock worth $467,986,000 after purchasing an additional 1,199,402 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Automatic Data Processing by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 2,556,663 shares of the business services provider’s stock worth $279,491,000 after purchasing an additional 38,138 shares in the last quarter. 78.53% of the stock is owned by institutional investors.

Shares of Automatic Data Processing stock traded up $1.10 during trading on Wednesday, reaching $114.80. The company’s stock had a trading volume of 109,298 shares, compared to its average volume of 2,290,748. The stock has a market cap of $50,399.76, a PE ratio of 30.73, a PEG ratio of 2.49 and a beta of 0.88. Automatic Data Processing has a 52 week low of $95.50 and a 52 week high of $125.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.10. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. Automatic Data Processing’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. equities research analysts predict that Automatic Data Processing will post 4.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Friday, March 9th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 68.11%.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Macon Daily and is the sole property of of Macon Daily. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://macondaily.com/2018/04/16/automatic-data-processing-adp-receives-120-45-consensus-target-price-from-brokerages-updated.html.

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.

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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.

Leave a Reply