Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $311.00 at Morgan Stanley

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) had its target price upped by investment analysts at Morgan Stanley from $310.00 to $311.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the business services provider's stock. Morgan Stanley's price objective would indicate a potential upside of 3.51% from the company's previous close.

ADP has been the topic of a number of other research reports. Stifel Nicolaus raised their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $314.33.

Automatic Data Processing Stock Down 2.9%

ADP stock traded down $9.06 during trading on Thursday, reaching $300.44. 1,791,558 shares of the company traded hands, compared to its average volume of 1,385,865. Automatic Data Processing has a 12 month low of $256.47 and a 12 month high of $329.93. The business has a 50 day simple moving average of $310.28 and a 200 day simple moving average of $305.18. The company has a market capitalization of $121.95 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 2.84 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the company earned $2.09 earnings per share. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing will post 9.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ADP. Brighton Jones LLC raised its stake in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $957,000. OneAscent Financial Services LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $576,000. Disciplined Investors L.L.C. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $319,000. Finally, Nicolet Advisory Services LLC raised its position in Automatic Data Processing by 14.0% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,783 shares of the business services provider's stock valued at $511,000 after acquiring an additional 219 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.