Automatic Data Processing (NASDAQ:ADP) Price Target Cut to $251.00 by Analysts at TD Cowen

Automatic Data Processing (NASDAQ:ADP) had its price target decreased by TD Cowen from $253.00 to $251.00 in a research report released on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the business services provider’s stock.

A number of other research firms have also recently commented on ADP. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a buy rating in a report on Monday, March 11th. Barclays boosted their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an overweight rating in a report on Thursday. Royal Bank of Canada reaffirmed a sector perform rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an underweight rating on the stock in a report on Thursday. Finally, StockNews.com cut shares of Automatic Data Processing from a buy rating to a hold rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $255.42.

Automatic Data Processing Stock Performance

Shares of ADP stock traded down $0.14 during mid-day trading on Thursday, reaching $241.89. 1,491,532 shares of the company’s stock traded hands, compared to its average volume of 1,795,993. Automatic Data Processing has a 12 month low of $205.53 and a 12 month high of $256.84. The firm has a 50 day moving average price of $245.91 and a two-hundred day moving average price of $239.13. The firm has a market capitalization of $99.37 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the business posted $2.52 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that Automatic Data Processing will post 9.15 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Activity

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,829 shares of company stock valued at $965,274. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Automatic Data Processing by 3.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 44,305 shares of the business services provider’s stock worth $10,659,000 after purchasing an additional 1,399 shares during the last quarter. NorthRock Partners LLC raised its holdings in Automatic Data Processing by 27.3% in the third quarter. NorthRock Partners LLC now owns 1,567 shares of the business services provider’s stock worth $377,000 after purchasing an additional 336 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of Automatic Data Processing by 1.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 202,165 shares of the business services provider’s stock valued at $48,637,000 after buying an additional 3,400 shares during the last quarter. Segment Wealth Management LLC boosted its holdings in shares of Automatic Data Processing by 3.0% in the 3rd quarter. Segment Wealth Management LLC now owns 53,999 shares of the business services provider’s stock valued at $12,991,000 after buying an additional 1,560 shares in the last quarter. Finally, Forsta AP Fonden grew its position in shares of Automatic Data Processing by 8.0% in the 3rd quarter. Forsta AP Fonden now owns 131,600 shares of the business services provider’s stock worth $31,660,000 after buying an additional 9,800 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.