Brokerages Set Automatic Data Processing (ADP) Target Price at $101.65

Automatic Data Processing (NYSE:ADP) has received an average rating of “Hold” from the sixteen research firms that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $101.65.

Several equities analysts have weighed in on ADP shares. Royal Bank of Canada restated a “hold” rating and set a $99.00 target price on shares of Automatic Data Processing in a report on Friday, January 20th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Monday, January 30th. Stifel Nicolaus dropped their target price on shares of Automatic Data Processing from $105.00 to $95.00 and set a “hold” rating for the company in a report on Monday, January 30th. William Blair restated an “outperform” rating on shares of Automatic Data Processing in a report on Tuesday, February 7th. Finally, BMO Capital Markets restated a “hold” rating and set a $98.00 target price on shares of Automatic Data Processing in a report on Wednesday, April 5th.

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Shares of Automatic Data Processing (NYSE:ADP) traded up 0.95% during trading on Monday, hitting $103.04. 1,218,209 shares of the stock were exchanged. Automatic Data Processing has a one year low of $84.36 and a one year high of $105.20. The company has a market cap of $46.25 billion and a price-to-earnings ratio of 27.68. The stock’s 50 day moving average price is $103.14 and its 200-day moving average price is $97.98.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Wednesday, February 1st. The business services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Automatic Data Processing will post $3.66 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be issued a dividend of $0.57 per share. The ex-dividend date is Wednesday, June 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.21%.

In other news, VP Brock Albinson sold 1,051 shares of Automatic Data Processing stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $102.81, for a total transaction of $108,053.31. Following the completion of the sale, the vice president now directly owns 5,049 shares in the company, valued at $519,087.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael C. Eberhard sold 7,463 shares of Automatic Data Processing stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $105.00, for a total transaction of $783,615.00. Following the sale, the insider now owns 34,129 shares of the company’s stock, valued at $3,583,545. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,761 shares of company stock valued at $18,521,656.

Several large investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Automatic Data Processing by 3.8% in the fourth quarter. State Street Corp now owns 20,759,452 shares of the business services provider’s stock worth $2,133,753,000 after buying an additional 763,365 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Automatic Data Processing by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 12,836,545 shares of the business services provider’s stock worth $1,132,183,000 after buying an additional 123,283 shares during the period. Morgan Stanley increased its stake in shares of Automatic Data Processing by 6.4% in the third quarter. Morgan Stanley now owns 9,324,401 shares of the business services provider’s stock worth $822,411,000 after buying an additional 561,870 shares during the period. BlackRock Fund Advisors increased its stake in shares of Automatic Data Processing by 3.0% in the third quarter. BlackRock Fund Advisors now owns 8,516,168 shares of the business services provider’s stock worth $751,126,000 after buying an additional 246,925 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Automatic Data Processing by 1.9% in the third quarter. Northern Trust Corp now owns 7,022,879 shares of the business services provider’s stock worth $619,419,000 after buying an additional 132,896 shares during the period.

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.

5 Day Chart for NYSE:ADP

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