Automatic Data Processing (NASDAQ:ADP) Given New $305.00 Price Target at Jefferies Financial Group

Automatic Data Processing (NASDAQ:ADP) had its target price increased by Jefferies Financial Group from $290.00 to $305.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the business services provider’s stock.

A number of other analysts have also issued reports on the company. Barclays boosted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $291.27.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $303.26 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market cap of $123.57 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. Automatic Data Processing has a 52 week low of $231.27 and a 52 week high of $311.67. The firm’s 50-day simple moving average is $297.23 and its two-hundred day simple moving average is $283.77.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 81.85%. Research analysts predict that Automatic Data Processing will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity

In related news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock valued at $12,604,872. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Moloney Securities Asset Management LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at approximately $209,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after buying an additional 15,340 shares in the last quarter. RIA Advisory Group LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth about $470,000. Dash Acquisitions Inc. raised its position in shares of Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after buying an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in Automatic Data Processing during the 3rd quarter valued at $951,000. Institutional investors own 80.03% of the company’s stock.

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.