BMO Capital Markets reissued their market perform rating on shares of Automatic Data Processing (NYSE:ADP) in a research report report published on Monday, August 21st. BMO Capital Markets currently has a $105.00 price objective on the business services provider’s stock.
A number of other research analysts have also recently issued reports on ADP. Wells Fargo & Company reiterated a market perform rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Evercore ISI restated an in-line rating and issued a $115.00 price target on shares of Automatic Data Processing in a research note on Sunday, August 20th. Barclays PLC restated an equal weight rating and issued a $105.00 price target on shares of Automatic Data Processing in a research note on Tuesday, August 15th. Royal Bank Of Canada boosted their price target on Automatic Data Processing from $94.00 to $95.00 and gave the stock a sector perform rating in a research note on Tuesday, August 1st. Finally, Deutsche Bank AG restated a hold rating and issued a $102.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. Automatic Data Processing currently has an average rating of Hold and an average price target of $107.25.
Automatic Data Processing (NYSE:ADP) traded down 0.86% during trading on Monday, hitting $106.43. 5,484,974 shares of the company traded hands. The firm has a market capitalization of $47.29 billion and a P/E ratio of 27.64. The stock has a 50-day moving average price of $107.90 and a 200-day moving average price of $103.50. Automatic Data Processing has a 12-month low of $85.48 and a 12-month high of $121.77.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. Equities analysts expect that Automatic Data Processing will post $3.81 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 7th.
In related news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the sale, the chief executive officer now directly owns 146,494 shares in the company, valued at $16,114,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now owns 25,737 shares in the company, valued at $2,624,659.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,228 shares of company stock valued at $4,496,063.
Several large investors have recently bought and sold shares of ADP. Acrospire Investment Management LLC purchased a new stake in Automatic Data Processing during the second quarter valued at approximately $102,000. Coconut Grove Bank raised its position in Automatic Data Processing by 79.6% during the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 460 shares during the period. Grisanti Capital Management LLC raised its position in Automatic Data Processing by 4.5% during the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 45 shares during the period. Proficio Capital Partners LLC raised its position in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 17 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Automatic Data Processing during the first quarter valued at approximately $113,000.
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.
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