Morgan Stanley upgraded shares of Automatic Data Processing, Inc. (NASDAQ:ADP) from an underweight rating to an equal rating in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $114.00 target price on the business services provider’s stock.
A number of other research firms have also weighed in on ADP. BidaskClub upgraded Automatic Data Processing from a hold rating to a buy rating in a report on Tuesday, August 1st. Royal Bank Of Canada upped their target price on Automatic Data Processing from $94.00 to $95.00 and gave the stock a sector perform rating in a report on Tuesday, August 1st. Robert W. Baird restated a neutral rating and set a $95.00 target price on shares of Automatic Data Processing in a report on Sunday, July 30th. Stifel Nicolaus restated a hold rating and set a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, Sanford C. Bernstein increased their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the company an outperform rating in a report on Tuesday, October 31st. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $112.37.
Shares of Automatic Data Processing (ADP) traded up $0.03 during trading hours on Tuesday, reaching $111.06. The company had a trading volume of 1,969,482 shares, compared to its average volume of 2,901,375. Automatic Data Processing has a 52 week low of $93.95 and a 52 week high of $121.77. The company has a market capitalization of $49,240.00, a PE ratio of 29.97, a P/E/G ratio of 2.87 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Automatic Data Processing’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be given a dividend of $0.63 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.87%.
In other news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction dated 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 directly owns 6,287 shares in the company, valued at approximately $669,816.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction dated Saturday, September 2nd. The shares were 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 $1,125,052. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Automatic Data Processing by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after buying an additional 811,960 shares in the last quarter. BlackRock Inc. lifted its stake in Automatic Data Processing by 0.8% in the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after buying an additional 237,439 shares in the last quarter. Pershing Square Capital Management L.P. lifted its stake in Automatic Data Processing by 402.5% in the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after buying an additional 7,047,575 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Automatic Data Processing by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after buying an additional 485,320 shares in the last quarter. Finally, Polen Capital Management LLC lifted its stake in Automatic Data Processing by 2.3% in the 3rd quarter. Polen Capital Management LLC now owns 6,813,929 shares of the business services provider’s stock valued at $744,899,000 after buying an additional 152,027 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.
Automatic Data Processing Company Profile
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.
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