Recent Research Analysts’ Ratings Changes for Automatic Data Processing (ADP)

Posted by William Tyler on Nov 13th, 2024

A number of research firms have changed their ratings and price targets for Automatic Data Processing (NASDAQ: ADP):

11/4/2024 – Automatic Data Processing had its price target raised by analysts at Barclays PLC from $310.00 to $325.00. They now have an “overweight” rating on the stock.
11/4/2024 – Automatic Data Processing had its price target raised by analysts at Mizuho from $281.00 to $310.00. They now have an “outperform” rating on the stock.
11/1/2024 – Automatic Data Processing had its price target raised by analysts at TD Cowen from $276.00 to $285.00. They now have a “hold” rating on the stock.
10/31/2024 – Automatic Data Processing had its price target raised by analysts at Royal Bank of Canada from $267.00 to $315.00. They now have a “sector perform” rating on the stock.
10/22/2024 – Automatic Data Processing had its price target raised by analysts at UBS Group AG from $270.00 to $295.00. They now have a “neutral” rating on the stock.
10/22/2024 – Automatic Data Processing had its price target raised by analysts at Jefferies Financial Group Inc. from $260.00 to $290.00. They now have a “hold” rating on the stock.
9/25/2024 – Automatic Data Processing had its price target raised by analysts at Citigroup Inc. from $260.00 to $295.00. They now have a “neutral” rating on the stock.
9/19/2024 – Automatic Data Processing was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $0.28 during midday trading on Wednesday, hitting $307.63. The company had a trading volume of 832,839 shares, compared to its average volume of 1,630,120. The company has a market capitalization of $125.35 billion, a PE ratio of 32.83, a P/E/G ratio of 3.58 and a beta of 0.79. 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 $285.39 and a 200-day moving average price of $262.92. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS 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 company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. Automatic Data Processing’s revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $1.54 dividend. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock worth $27,691,708 over the last ninety days. 0.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADP. TD Asset Management Inc lifted its holdings in Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Automatic Data Processing by 70.7% during the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after acquiring an additional 264,466 shares during the period. Toronto Dominion Bank lifted its holdings in Automatic Data Processing by 1.7% during the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock worth $61,804,000 after acquiring an additional 4,253 shares during the period. Plato Investment Management Ltd lifted its holdings in Automatic Data Processing by 23.8% during the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after acquiring an additional 5,114 shares during the period. Finally, Moloney Securities Asset Management LLC bought a new stake in shares of Automatic Data Processing in the third quarter valued at $209,000. Institutional investors own 80.03% of the company’s stock.

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.