Automatic Data Processing (NASDAQ:ADP) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Automatic Data Processing (NASDAQ:ADPFree Report) from a hold rating to a buy rating in a research report released on Friday morning.

Other research analysts have also recently issued research reports about the company. TD Cowen decreased their price target on Automatic Data Processing from $253.00 to $251.00 and set a hold rating on the stock in a research report on Thursday, May 2nd. Evercore ISI lifted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an underperform rating in a research note on Tuesday, March 26th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $254.00 to $250.00 and set an underweight rating for the company in a report on Thursday, May 2nd. Finally, Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a buy rating in a report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $255.42.

Read Our Latest Report on ADP

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $244.92 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $100.24 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. The stock has a 50-day moving average of $245.93 and a 200-day moving average of $241.95. Automatic Data Processing has a one year low of $205.53 and a one year high of $256.84.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the business earned $2.52 EPS. Automatic Data Processing’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing will post 9.17 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Hedge Funds Weigh In On Automatic Data Processing

Hedge funds have recently made changes to their positions in the business. Keener Financial Planning LLC raised its holdings in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in Automatic Data Processing during the 1st quarter valued at $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the 1st quarter valued at $36,000. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $35,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $39,000. Institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

(Get Free Report)

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.

Featured Stories

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.