Automatic Data Processing (NASDAQ:ADP) Price Target Lowered to $137.00 at Morgan Stanley

Automatic Data Processing (NASDAQ:ADP) had its target price decreased by Morgan Stanley from $145.00 to $137.00 in a research report released on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

ADP has been the topic of a number of other reports. Credit Suisse Group reissued a buy rating and issued a $190.00 price target on shares of Automatic Data Processing in a research note on Sunday, February 2nd. Evercore ISI upgraded shares of Automatic Data Processing from an in-line rating to an outperform rating and set a $212.00 price objective on the stock in a report on Wednesday, January 22nd. ValuEngine upgraded shares of Automatic Data Processing from a sell rating to a hold rating in a report on Tuesday, December 3rd. Moffett Nathanson lowered shares of Automatic Data Processing from a buy rating to a neutral rating in a report on Tuesday, January 7th. Finally, Citigroup upped their price objective on shares of Automatic Data Processing from $170.00 to $185.00 and gave the stock a neutral rating in a report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $181.90.

Automatic Data Processing stock traded up $1.63 during midday trading on Tuesday, hitting $122.59. 3,941,461 shares of the stock were exchanged, compared to its average volume of 2,725,665. Automatic Data Processing has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The stock has a market capitalization of $47.09 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.49 and a beta of 0.89. The stock’s 50-day simple moving average is $158.22 and its 200 day simple moving average is $164.86. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.08. Automatic Data Processing had a net margin of 16.97% and a return on equity of 46.96%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the business earned $1.34 earnings per share. Automatic Data Processing’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing will post 6.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $3.64 annualized dividend and a dividend yield of 2.97%. Automatic Data Processing’s dividend payout ratio is currently 66.79%.

In related news, VP Don Mcguire sold 326 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $172.07, for a total transaction of $56,094.82. Following the sale, the vice president now directly owns 6,916 shares of the company’s stock, valued at approximately $1,190,036.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donald Weinstein sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $170.08, for a total transaction of $340,160.00. Following the sale, the vice president now directly owns 25,710 shares in the company, valued at $4,372,756.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,528 shares of company stock worth $2,556,051. Company insiders own 0.31% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighMark Wealth Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $135,000. Sowa Financial Group Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $60,000. Quadrant Capital Group LLC increased its position in shares of Automatic Data Processing by 18.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,446 shares of the business services provider’s stock valued at $561,000 after purchasing an additional 545 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Automatic Data Processing by 634.5% in the 4th quarter. Macquarie Group Ltd. now owns 155,457 shares of the business services provider’s stock valued at $26,506,000 after purchasing an additional 134,293 shares during the last quarter. Finally, TFG Advisers LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $5,143,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Company Profile

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.

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