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Automatic Data Processing, Inc. (NASDAQ:ADP) declared a quarterly dividend on Wednesday, January 10th, reports RTT News. Investors of record on Friday, March 8th will be given a dividend of 1.40 per share by the business services provider on Monday, April 1st. This represents a $5.60 annualized dividend and a yield of 2.37%. The company has raised its dividend by an average of 12.1% annually over the last three years and has increased its dividend every year for the last 48 years.

Shares of ADP stock traded up $0.62 during trading on Wednesday, hitting $235.84. The company has a market cap of $97.00 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.21 and a beta of 0.79. Equities research analysts expect that Automatic Data Processing will post 9.14 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on ADP. Morgan Stanley lowered their target price on Automatic Data Processing from $260.00 to $250.00 and set an “equal weight” rating on the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $250.50.

Automatic Data Processing, Inc. provides cloud-based human capital management solutions worldwide, operating 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.



Read more: Automatic Data Processing, Inc. (NASDAQ:ADP) Plans $1.40 Quarterly Dividend