Automatic Data Processing (NYSE:ADP) Rating Reiterated by Wells Fargo & Company

Wells Fargo & Company reiterated their market perform rating on shares of Automatic Data Processing (NYSE:ADP) in a report published on Wednesday.

Several other equities research analysts also recently issued reports on ADP. BMO Capital Markets restated a market perform rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research note on Wednesday. Argus raised their price objective on shares of Automatic Data Processing from $118.00 to $130.00 and gave the stock a buy rating in a research note on Thursday, August 3rd. Royal Bank Of Canada raised their price objective on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a sector perform rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Automatic Data Processing from a hold rating to a buy rating in a research note on Tuesday, August 1st. Finally, Robert W. Baird restated a neutral rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research note on Sunday, July 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Automatic Data Processing has an average rating of Hold and a consensus target price of $104.96.

Automatic Data Processing (ADP) traded down 0.08% during mid-day trading on Wednesday, reaching $108.81. 4,639,179 shares of the company traded hands. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The company has a market capitalization of $48.35 billion and a P/E ratio of 28.26. The stock has a 50 day moving average price of $106.27 and a 200-day moving average price of $102.61.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.02. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. Analysts expect that Automatic Data Processing will post $3.82 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 2.10%.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the transaction, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at $15,941,894.03. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 1,933 shares of Automatic Data Processing stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the transaction, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,620 shares of company stock valued at $9,435,757.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in shares of Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock worth $2,353,000 after buying an additional 6,300 shares during the last quarter. Burke & Herbert Bank & Trust Co. boosted its position in shares of Automatic Data Processing by 9.8% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 6,287 shares of the business services provider’s stock worth $644,000 after buying an additional 560 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Automatic Data Processing by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 141,822 shares of the business services provider’s stock worth $14,521,000 after buying an additional 1,700 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Automatic Data Processing by 39.7% in the first quarter. Koshinski Asset Management Inc. now owns 3,123 shares of the business services provider’s stock worth $320,000 after buying an additional 887 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Automatic Data Processing by 2.5% in the first quarter. Quadrant Capital Group LLC now owns 3,126 shares of the business services provider’s stock worth $312,000 after buying an additional 75 shares during the last quarter.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Analyst Recommendations for Automatic Data Processing (NYSE:ADP)

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