Automatic Data Processing (NASDAQ:ADP) Stock Price Expected to Rise, TD Securities Analyst Says

Automatic Data Processing (NASDAQ:ADP) had its target price boosted by stock analysts at TD Securities from $298.00 to $321.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the business services provider’s stock. TD Securities’ price objective would suggest a potential downside of 0.20% from the company’s current price.

ADP has been the topic of a number of other research reports. Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $305.64.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $321.65 on Wednesday. The business’s fifty day moving average is $300.63 and its 200 day moving average is $300.90. Automatic Data Processing has a fifty-two week low of $231.27 and a fifty-two week high of $323.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $130.57 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 earnings per share. Sell-side analysts predict that Automatic Data Processing will post 9.93 earnings per share for the current year.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 in the last 90 days. Insiders own 0.21% of the company’s stock.

Institutional Trading of Automatic Data Processing

Several hedge funds have recently made changes to their positions in the business. AMG National Trust Bank lifted its stake in shares of Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after acquiring an additional 33 shares during the period. Sentinus LLC raised its holdings in Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Syntegra Private Wealth Group LLC raised its holdings in Automatic Data Processing by 4.7% during the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after purchasing an additional 35 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in Automatic Data Processing by 1.0% in the first quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider’s stock valued at $1,030,000 after purchasing an additional 35 shares during the period. Finally, Ashton Thomas Securities LLC boosted its holdings in Automatic Data Processing by 4.1% in the 1st quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider’s stock valued at $270,000 after purchasing an additional 35 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

About Automatic Data Processing

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.