Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $290.00 at Jefferies Financial Group

Automatic Data Processing (NASDAQ:ADP) had its price target raised by Jefferies Financial Group from $260.00 to $290.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a hold rating on the business services provider’s stock.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Bank of America raised their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $275.33.

Automatic Data Processing Stock Up 0.1 %

NASDAQ:ADP opened at $291.34 on Tuesday. Automatic Data Processing has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The stock has a market capitalization of $119.24 billion, a P/E ratio of 32.52, a P/E/G ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day simple moving average is $277.86 and its 200-day simple moving average is $257.66.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. On average, equities analysts anticipate that Automatic Data Processing will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Don Mcguire sold 3,179 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Automatic Data Processing

Several hedge funds have recently modified their holdings of ADP. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $1,570,000. International Assets Investment Management LLC raised its stake in shares of Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares during the last quarter. McAdam LLC raised its stake in shares of Automatic Data Processing by 6.7% during the 3rd quarter. McAdam LLC now owns 1,794 shares of the business services provider’s stock worth $496,000 after buying an additional 112 shares during the last quarter. Monte Financial Group LLC raised its stake in shares of Automatic Data Processing by 1.1% during the 3rd quarter. Monte Financial Group LLC now owns 16,634 shares of the business services provider’s stock worth $4,603,000 after buying an additional 173 shares during the last quarter. Finally, Litman Gregory Wealth Management LLC raised its stake in shares of Automatic Data Processing by 279.3% during the 3rd quarter. Litman Gregory Wealth Management LLC now owns 4,332 shares of the business services provider’s stock worth $1,199,000 after buying an additional 3,190 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

About Automatic Data Processing

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.