Automatic Data Processing Price Target Raised to $88.00 (ADP)
Automatic Data Processing (NASDAQ:ADP) had its priceobjective raised by Deutsche Bank from $77.00 to $88.00 in a research report released on Thursday morning. Deutsche Bank currently has a hold rating on the stock.
Deutsche Bank has also updated their ratings on a number of other information technology stocks in the last week. The firm reiterated its hold rating on shares of Fidelity National Information Services. They have a $64.00 price target on that stock, up previously from $57.00. Also, Deutsche Bank reiterated its buy rating on shares of Alliance Data Systems Co.. They have a $341.00 price target on that stock. Finally, Deutsche Bank raised its price target on shares of Genpact Limited from $17.00 to $19.00. They have a hold rating on that stock.
In other Automatic Data Processing news, VP Alan Sheiness sold 8,532 shares of AutomaticData Processing stock on the open market in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $85.43, for a total transaction of $728,888.76. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of other firms have also recently commented on ADP. Analysts at BMO Capital Markets downgraded shares of Automatic Data Processing from an outperform rating to a market perform rating and lowered their price target for the stock from $89.00 to $85.00 in a research note on Thursday. They noted that the move was a valuation call. Analysts at Credit Suisse downgraded shares of Automatic Data Processing from an outperform rating to a neutral rating in a research note on Friday, January 16th. Analysts at Citigroup Inc. reiterated a hold rating and set a $83.00 price target (up previously from $77.00) on shares of Automatic Data Processing in a research note on Friday, January 16th. Finally, analysts at Stifel Nicolaus downgraded shares of Automatic Data Processing from a buy rating to a hold rating and set a $83.00 price target on the stock in a research note on Friday, December 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $86.50.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at 86.44 on Thursday. Automatic Data Processing has a 52 week low of $64.4249 and a 52 week high of $87.35. The stock has a 50-day moving average of $84.72 and a 200-day moving average of $78.68. The company has a market cap of $41.072 billion and a price-to-earnings ratio of 29.29.
Automatic Data Processing (NASDAQ:ADP) last released its earnings data on Wednesday, February 4th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.02. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts expect that Automatic Data Processing will post $2.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, March 11th.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of human capital management solutionsto employers and computing solutions to vehicle dealers. ADP operates through three business segments: Employer Services, Professional Employer Organization (PEO) Services and Dealer Services.