BidaskClub upgraded shares of Automatic Data Processing (NASDAQ:ADP) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other analysts also recently commented on ADP. Royal Bank Of Canada restated a hold rating and set a $95.00 price objective on shares of Automatic Data Processing in a report on Friday, September 15th. Citigroup restated a neutral rating and set a $110.00 price objective (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. Wells Fargo & Company restated a market perform rating on shares of Automatic Data Processing in a report on Wednesday, August 9th. BMO Capital Markets restated a market perform rating and set a $105.00 price objective on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded Automatic Data Processing from a hold rating to a buy rating and set a $126.00 price objective for the company in a report on Wednesday, November 8th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $112.37.

Automatic Data Processing (NASDAQ ADP) opened at $114.81 on Friday. Automatic Data Processing has a 52 week low of $94.11 and a 52 week high of $121.77. The firm has a market capitalization of $50,920.00, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.91 and a beta of 0.86. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly 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 40.61% and a net margin of 13.04%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. sell-side analysts expect that Automatic Data Processing will post 3.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a $0.63 dividend. 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 2.19%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is currently 57.87%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $1,880,000. Public Employees Retirement System of Ohio grew its stake in shares of Automatic Data Processing by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 309,760 shares of the business services provider’s stock valued at $33,863,000 after acquiring an additional 1,166 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $987,000. Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $247,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $195,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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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.

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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