Automatic Data Processing (NYSE:ADP) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages have also issued reports on ADP. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. BMO Capital Markets cut their price objective on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Bank of America Corporation increased their price objective on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Barclays PLC reaffirmed an “equal weight” rating and set a $105.00 price objective on shares of Automatic Data Processing in a report on Tuesday, August 15th. Finally, Citigroup Inc. reaffirmed 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. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and a consensus target price of $112.37.

Automatic Data Processing (NYSE:ADP) traded up $0.44 during trading on Tuesday, reaching $111.53. 3,716,800 shares of the company traded hands, compared to its average volume of 2,920,638. Automatic Data Processing has a one year low of $90.90 and a one year high of $121.77.

Automatic Data Processing (NYSE: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, beating analysts’ consensus estimates of $0.85 by $0.06. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $0.86 EPS. The company’s revenue was up 5.6% on a year-over-year basis.

TRADEMARK VIOLATION NOTICE: “Automatic Data Processing (ADP) Upgraded by Morgan Stanley to Equal” was originally reported by American Banking News and is owned by of American Banking News. If you are reading this story on another website, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2017/11/14/automatic-data-processing-adp-upgraded-by-morgan-stanley-to-equal.html.

In related news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here.

Institutional investors and hedge funds have recently modified their holdings of the stock. Goelzer Investment Management Inc. lifted its position in shares of Automatic Data Processing by 0.3% during the first quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock worth $434,000 after purchasing an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of Automatic Data Processing by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after purchasing an additional 12 shares during the last quarter. Washington Trust Bank lifted its position in shares of Automatic Data Processing by 0.4% during the second quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock worth $348,000 after purchasing an additional 12 shares during the last quarter. J. W. Burns & Company lifted its position in shares of Automatic Data Processing by 0.5% during the fourth quarter. J. W. Burns & Company now owns 3,121 shares of the business services provider’s stock worth $264,000 after purchasing an additional 16 shares during the last quarter. Finally, Alpha Windward LLC lifted its position in shares of Automatic Data Processing by 0.6% during the third quarter. Alpha Windward LLC now owns 2,555 shares of the business services provider’s stock worth $225,000 after purchasing an additional 16 shares during the last quarter.

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 (NYSE: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.