StockNews.com lowered shares of Automatic Data Processing (NASDAQ:ADP – Free Report) from a buy rating to a hold rating in a report released on Saturday.
Several other research analysts also recently commented on ADP. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $289.91.
View Our Latest Analysis on ADP
Automatic Data Processing Stock Up 1.2 %
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. On average, analysts forecast that Automatic Data Processing will post 9.93 earnings per share for the current fiscal year.
Automatic Data Processing Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $1.54 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.
Insider Buying and Selling at Automatic Data Processing
In related news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,062 shares of company stock valued at $12,299,550. 0.21% of the stock is currently owned by corporate insiders.
Institutional Trading of Automatic Data Processing
A number of institutional investors and hedge funds have recently bought and sold shares of ADP. Cullen Investment Group LTD. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth $208,000. Exeter Financial LLC boosted its position in shares of Automatic Data Processing by 0.7% during the fourth quarter. Exeter Financial LLC now owns 13,606 shares of the business services provider’s stock valued at $3,983,000 after buying an additional 96 shares during the last quarter. Tealwood Asset Management Inc. increased its holdings in Automatic Data Processing by 1.3% in the 4th quarter. Tealwood Asset Management Inc. now owns 9,484 shares of the business services provider’s stock worth $2,776,000 after buying an additional 124 shares in the last quarter. PSI Advisors LLC raised its position in Automatic Data Processing by 3,750.0% in the 4th quarter. PSI Advisors LLC now owns 231 shares of the business services provider’s stock worth $68,000 after buying an additional 225 shares during the last quarter. Finally, Marcum Wealth LLC raised its position in Automatic Data Processing by 4.3% in the 4th quarter. Marcum Wealth LLC now owns 2,171 shares of the business services provider’s stock worth $636,000 after buying an additional 90 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.
Automatic Data Processing Company Profile
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.
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