Other equities analysts have also issued reports about the stock. Sanford C. Bernstein lowered shares of Automatic Data Processing from an outperform rating to a market perform rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their target price on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a neutral rating in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a neutral rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Automatic Data Processing from a hold rating to a buy rating and set a $179.00 target price on the stock in a report on Friday, June 21st. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an overweight rating in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of Hold and an average target price of $174.10.
ADP opened at $165.07 on Tuesday. The firm has a market capitalization of $73.21 billion, a PE ratio of 30.96, a PEG ratio of 2.11 and a beta of 0.91. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $172.00. The firm’s 50-day moving average price is $165.75 and its 200 day moving average price is $159.96. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 annualized dividend and a yield of 1.91%. Automatic Data Processing’s payout ratio is 57.98%.
In other news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total value of $286,972.84. Following the sale, the vice president now directly owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Greenleaf Trust increased its stake in Automatic Data Processing by 3.7% during the 2nd quarter. Greenleaf Trust now owns 8,043 shares of the business services provider’s stock worth $1,330,000 after buying an additional 285 shares during the period. Hendershot Investments Inc. increased its stake in Automatic Data Processing by 2.1% during the 2nd quarter. Hendershot Investments Inc. now owns 24,160 shares of the business services provider’s stock worth $3,994,000 after buying an additional 500 shares during the period. TCG Advisors LP purchased a new stake in Automatic Data Processing during the 1st quarter worth approximately $161,000. Parallel Advisors LLC increased its stake in Automatic Data Processing by 14.9% during the 1st quarter. Parallel Advisors LLC now owns 6,113 shares of the business services provider’s stock worth $977,000 after buying an additional 791 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Automatic Data Processing by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,854,222 shares of the business services provider’s stock valued at $296,193,000 after purchasing an additional 69,989 shares during the last quarter. 80.23% of the stock is currently owned by institutional investors and hedge funds.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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