Automatic Data Processing (NASDAQ:ADP) Given New $325.00 Price Target at Barclays

Automatic Data Processing (NASDAQ:ADP) had its price target hoisted by Barclays from $310.00 to $325.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other research firms have also recently issued reports on ADP. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Up 0.6 %

ADP stock opened at $289.86 on Monday. The company’s 50 day simple moving average is $281.94 and its 200-day simple moving average is $260.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $118.21 billion, a P/E ratio of 30.93, a P/E/G ratio of 3.32 and a beta of 0.78. Automatic Data Processing has a 52-week low of $218.63 and a 52-week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. As a group, equities research analysts anticipate that Automatic Data Processing will post 9.97 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Activity

In related news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade 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 is available through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADP. Central Pacific Bank Trust Division acquired a new position in Automatic Data Processing in the 1st quarter worth about $241,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Automatic Data Processing by 47.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,356 shares of the business services provider’s stock valued at $4,584,000 after acquiring an additional 5,911 shares during the last quarter. Larson Financial Group LLC grew its position in Automatic Data Processing by 134.9% in the first quarter. Larson Financial Group LLC now owns 1,233 shares of the business services provider’s stock worth $308,000 after acquiring an additional 708 shares in the last quarter. Avidian Wealth Solutions LLC raised its holdings in shares of Automatic Data Processing by 11.8% during the 1st quarter. Avidian Wealth Solutions LLC now owns 1,238 shares of the business services provider’s stock valued at $309,000 after purchasing an additional 131 shares in the last quarter. Finally, Catalina Capital Group LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at $347,000. 80.03% of the stock is 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.