Morgan Stanley upgraded shares of Automatic Data Processing, Inc. (NASDAQ:ADP) from an underweight rating to an equal rating in a report released on Tuesday morning. They currently have $114.00 target price on the business services provider’s stock.

Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Automatic Data Processing from a hold rating to a buy rating in a research note on Tuesday, August 1st. Argus boosted their target price on Automatic Data Processing from $118.00 to $130.00 and gave the stock a buy rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Automatic Data Processing from a hold rating to a buy rating and set a $128.00 target price on the stock in a research note on Monday, October 16th. Barclays PLC restated an equal weight rating and issued a $105.00 target price on shares of Automatic Data Processing in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus restated a hold rating and issued a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $112.37.

Shares of Automatic Data Processing (NASDAQ ADP) traded up $0.55 on Tuesday, reaching $112.08. The company’s stock had a trading volume of 1,992,000 shares, compared to its average volume of 2,916,417. Automatic Data Processing has a 1 year low of $91.60 and a 1 year high of $121.77. The company has a market cap of $49,462.40, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. analysts expect that Automatic Data Processing will post 3.91 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Automatic Data Processing, Inc. (ADP) Upgraded by Morgan Stanley to Equal” was published by Watch List News and is the property of of Watch List News. If you are viewing this story on another domain, it was stolen and republished in violation of United States and international copyright law. The original version of this story can be accessed at https://www.watchlistnews.com/automatic-data-processing-inc-adp-upgraded-by-morgan-stanley-to-equal/1705603.html.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a $0.63 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.52 annualized dividend and a yield of 2.25%. Automatic Data Processing’s dividend payout ratio is presently 58.02%.

In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Maria Black sold 631 shares of the stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Automatic Data Processing by 2.4% during the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after acquiring an additional 811,960 shares in the last quarter. BlackRock Inc. lifted its position in shares of Automatic Data Processing by 0.8% during the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after acquiring an additional 237,439 shares in the last quarter. Pershing Square Capital Management L.P. lifted its position in shares of Automatic Data Processing by 402.5% during the third quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after acquiring an additional 7,047,575 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Automatic Data Processing by 6.2% during the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after acquiring an additional 485,320 shares in the last quarter. Finally, Polen Capital Management LLC lifted its position in shares of Automatic Data Processing by 2.3% during the third quarter. Polen Capital Management LLC now owns 6,813,929 shares of the business services provider’s stock worth $744,899,000 after acquiring an additional 152,027 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

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 (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.