Automatic Data Processing, Inc. (NASDAQ:ADP) is included among the Dividend Stock Portfolio For Retirement: Top 12 Stock Picks.
On May 10, Morgan Stanley lowered its price recommendation on Automatic Data Processing, Inc. (NASDAQ:ADP) to $240 from $274
It reiterated an Equal Weight rating on the shares. The firm said the target reduction followed the sector’s recent re-rating after earnings. On May 5, Argus Research lowered its price goal on ADP to $240 from $300.
It kept a Buy rating on the stock. The analyst noted that the shares had underperformed the broader market over the previous three months, though the company’s underlying business remained stable. The firm also pointed out that ADP reported Q3 earnings per share growth of 10% from a year earlier and exceeded consensus estimates.