Mizuho Raises Automatic Data Processing (NASDAQ:ADP) Price Target to $257.00

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Automatic Data Processing (NASDAQ: ADP – Get Rating) had its price target raised by Mizuho from $250.00 to $257.00 in a research report released Monday morning, Benzinga reports. Mizuho currently has a buy rating on the business service provider’s stock.

ADP has been the subject of a number of other reports. Morgan Stanley raised its price target on automatic data processing from $235.00 to $245.00 and gave the stock an equal weight rating in a Thursday, July 28 research note. Cowen raised its price target on automatic data processing from $225.00 to $230.00 in a Thursday, July 28 research note. Cowen raised its price target on automatic data processing from $225.00 to $230.00 in a Thursday, July 28 research note. Deutsche Bank Aktiengesellschaft raised its price target on automatic data processing from $203.00 to $234.00 in a Thursday, April 28 research note. Finally, Citigroup raised its price target on automatic data processing from $212.00 to $230.00 in a Monday, May 2 research note. One equity research analyst gave the stock a sell rating, ten issued a hold rating and two issued a buy rating for the company’s stock. According to MarketBeat.com, the Automatic Data Processing currently has a consensus rating of Hold and an average target price of $232.20.

Automatic data processing stock down 0.1%

Automatic data processing shares opened at $243.99 on Monday. The company has a 50-day moving average of $217.99 and a 200-day moving average of $216.07. The company has a debt ratio of 0.93, a current ratio of 0.99 and a quick ratio of 1.01. The company has a market capitalization of $101.93 billion, a PE ratio of 34.81, a P/E/G ratio of 2.50 and a beta of 0.84. Automatic Data Processing has a 1 year minimum of $192.26 and a 1 year maximum of $248.96.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its results on Wednesday, July 27. The business services provider reported earnings per share of $1.50 for the quarter, beating the consensus estimate of $1.47 by $0.03. The company posted revenue of $4.13 billion in the quarter, versus a consensus estimate of $4.05 billion. Automatic Data Processing has a return on equity of 66.25% and a net margin of 17.87%. The company’s revenue increased 10.5% year over year. During the same period last year, the company made earnings per share of $1.20. As a group, stock analysts expect Automatic Data Processing to post EPS of 8.04 for the current fiscal year.

Announcement of automatic data processing dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1. Shareholders of record on Friday, September 9 will receive a dividend of $1.04 per share. This represents a dividend of $4.16 on an annualized basis and a dividend yield of 1.70%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.34%.

Insider activity

Separately, Vice Chairman Christopher D’ambrosio sold 312 shares of the company in a transaction that took place on Monday, May 9. The stock was sold at an average price of $214.07, for a total transaction of $66,789.84. Following the sale, the vice president now owns 1,663 shares of the company, valued at $355,998.41. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Separately, Vice Chairman Christopher D’ambrosio sold 312 shares of the company in a transaction that took place on Monday, May 9. The stock was sold at an average price of $214.07, for a total transaction of $66,789.84. Following the sale, the vice president now owns 1,663 shares of the company, valued at $355,998.41. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Vice Chairman Augusto J. Blanchard sold 567 shares of the company in a trade that took place on Tuesday, July 5. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the sale, the vice president now directly owns 4,238 shares of the company, valued at approximately $892,692.32. The disclosure of this sale can be found here. Company insiders own 0.34% of the company’s shares.

Institutional investors weigh in on automatic data processing

Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. BlackRock Inc. increased its position in automatic data processing by 5.1% in the first quarter. BlackRock Inc. now owns 33,637,473 shares of the business services provider worth $7,653,871,000 after buying an additional 1,642,852 shares in the last quarter. State Street Corp increased its position in automatic data processing by 2.0% during the 4th quarter. State Street Corp now owns 18,427,297 shares of the business services provider worth $4,562,432,000 after buying an additional 357,520 shares last quarter. Geode Capital Management LLC increased its position in automatic data processing by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 8,128,167 shares of the business services provider worth $1,999,845,000 after purchasing an additional 73,543 shares last quarter. Charles Schwab Investment Management Inc. increased its position in automatic data processing by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,689,136 shares of the business services provider worth $1,522,047,000 after purchasing an additional 461,438 shares last quarter. Finally, Capital World Investors increased its position in IT by 16.9% in the 1st quarter. Capital World Investors now owns 5,393,160 shares of the business services provider worth $1,227,160,000 after buying an additional 779,457 shares last quarter. Institutional investors hold 78.84% of the company’s shares.

Automatic Data Processing Company Profile

(Get a rating)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.

Further reading

Analyst Recommendations for Automatic Data Processing (NASDAQ: ADP)



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