Barclays Boosts Automatic Data Processing (NASDAQ:ADP) Price Target to $310.00

Automatic Data Processing (NASDAQ:ADP) had its target price increased by Barclays from $282.00 to $310.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other analysts have also commented on ADP. Royal Bank of Canada reiterated a sector perform rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. TD Cowen decreased their price target on Automatic Data Processing from $253.00 to $251.00 and set a hold rating for the company in a research note on Thursday, May 2nd. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a hold rating in a research report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a buy rating to a hold rating in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price objective 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, May 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $262.18.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $262.79 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $107.56 billion, a PE ratio of 29.33, a P/E/G ratio of 2.72 and a beta of 0.78. The company has a 50 day moving average price of $246.43 and a 200-day moving average price of $246.42. Automatic Data Processing has a fifty-two week low of $205.53 and a fifty-two week high of $269.49.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing will post 10.01 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.13%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ADP. Keener Financial Planning LLC increased its position in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at approximately $36,000. Pineridge Advisors LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $39,000. Finally, MFA Wealth Advisors LLC acquired a new position in Automatic Data Processing during the second quarter worth $40,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

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.