Automatic Data Processing (NASDAQ:ADP) Given "Sector Perform" Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Automatic Data Processing (NASDAQ:ADP - Free Report) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $315.00 price objective on the business services provider's stock.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. TD Securities lifted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $305.64.

Automatic Data Processing Stock Down 0.0%

Shares of Automatic Data Processing stock traded down $0.04 during trading on Thursday, hitting $326.17. 1,817,095 shares of the stock traded hands, compared to its average volume of 1,709,713. The firm has a market cap of $132.40 billion, a P/E ratio of 34.01, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock's fifty day simple moving average is $305.14 and its 200 day simple moving average is $302.23. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing has a 52-week low of $231.27 and a 52-week high of $327.99.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share. On average, equities analysts predict that Automatic Data Processing will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.89%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Insider Activity

In other news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently bought and sold shares of ADP. Activest Wealth Management grew its holdings in Automatic Data Processing by 2,600.0% during the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock worth $25,000 after acquiring an additional 78 shares during the period. Clarity Asset Management Inc. bought a new position in Automatic Data Processing during the 1st quarter valued at $29,000. von Borstel & Associates Inc. bought a new position in shares of Automatic Data Processing during the first quarter valued at about $30,000. Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in shares of Automatic Data Processing during the 1st quarter worth $35,000. Institutional investors and hedge funds own 80.03% of the company's stock.

About Automatic Data Processing

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.