Morgan Stanley (NYSE:MS) analyst Steven Wald maintained a Hold rating on Automatic Data Processing (NASDAQ:ADP) on Thursday, setting a price target of $171, which is approximately 3.22% above the present share price of $165.67.
Wald expects Automatic Data Processing to post earnings per share (EPS) of $1.40 for the first quarter of 2021.
The current consensus among 7 TipRanks analysts is for a Moderate Buy rating of shares in Automatic Data Processing, with an average price target of $173.57.
The analysts price targets range from a high of $205 to a low of $143.
In its latest earnings report, released on 09/30/2020, the company reported a quarterly revenue of $3.47 billion and a net profit of $755.4 million. The company's market cap is $71.04 billion.
According to TipRanks.com, Morgan Stanley analyst Steven Wald is currently ranked with 3 stars on a 0-5 stars ranking scale, with an average return of 17.3% and a 50.00% success rate.
Automatic Data Processing, Inc. engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms. The Professional Employer Organization Services segment offers small and mid-sized businesses a human resources outsourcing solution through a co-employment mode. The Other segment comprises of non-recurring gains and losses; miscellaneous processing services; the elimination of intercompany transactions; and interest expense. The company was founded by Henry Taub in 1949 and is headquartered in Roseland, NJ.