BidaskClub downgraded shares of Automatic Data Processing (NASDAQ:ADP) from a strong-buy rating to a buy rating in a research note released on Tuesday morning, BidAskClub reports.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Automatic Data Processing from a hold rating to a buy rating and set a $178.00 target price on the stock in a report on Thursday, May 9th. Sanford C. Bernstein cut shares of Automatic Data Processing from an outperform rating to a market perform rating in a report on Tuesday, April 30th. Citigroup raised their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. Finally, Barclays raised their target price on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an overweight rating in a report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Automatic Data Processing has a consensus rating of Buy and an average target price of $166.89.

Automatic Data Processing stock opened at $164.45 on Tuesday. The stock has a market capitalization of $71.57 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 2.34 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $168.87.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.08. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 EPS. As a group, equities analysts forecast that Automatic Data Processing will post 5.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio is presently 72.64%.

In related news, VP Donald Weinstein sold 1,706 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total value of $281,507.06. Following the transaction, the vice president now directly owns 26,220 shares of the company’s stock, valued at $4,326,562.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jan Siegmund sold 27,272 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the completion of the transaction, the insider now directly owns 77,595 shares in the company, valued at $12,803,175. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Lunia Capital LP boosted its position in Automatic Data Processing by 14,251.9% in the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock valued at $18,368,000 after buying an additional 18,239,702 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Automatic Data Processing by 14.9% during the first quarter. Parallel Advisors LLC now owns 6,113 shares of the business services provider’s stock worth $977,000 after purchasing an additional 791 shares during the period. Fiera Capital Corp lifted its holdings in shares of Automatic Data Processing by 77.3% during the fourth quarter. Fiera Capital Corp now owns 5,287 shares of the business services provider’s stock worth $693,000 after purchasing an additional 2,305 shares during the period. Stifel Financial Corp lifted its holdings in shares of Automatic Data Processing by 7.3% during the fourth quarter. Stifel Financial Corp now owns 664,894 shares of the business services provider’s stock worth $87,052,000 after purchasing an additional 45,318 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Automatic Data Processing by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 330,189 shares of the business services provider’s stock worth $43,385,000 after purchasing an additional 1,376 shares during the period. 79.79% of the stock is currently owned by institutional investors and hedge funds.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Featured Article: How to interpret the current ratio

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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