Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $310.00 at Mizuho

Automatic Data Processing (NASDAQ:ADP) had its target price boosted by Mizuho from $281.00 to $310.00 in a research report released on Monday morning, Benzinga reports. Mizuho currently has an outperform rating on the business services provider’s stock.

ADP has been the topic of several other reports. Barclays boosted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank of Canada boosted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group raised their price objective 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, JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $289.86 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $281.94 and a 200-day moving average price of $260.46. Automatic Data Processing has a 12-month low of $218.63 and a 12-month high of $294.18. The firm has a market capitalization of $118.21 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 3.32 and a beta of 0.78.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Insider Activity at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. 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 the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $27,000. Keener Financial Planning LLC grew its position in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC raised its holdings in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Crewe Advisors LLC bought a new stake in Automatic Data Processing during the 1st quarter valued at approximately $33,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing in the 3rd quarter worth $35,000. Institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

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.