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 research analysts at TD Securities from $296.00 to $298.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. TD Securities’ target price suggests a potential downside of 1.83% from the company’s current price.

Several other research firms have also issued reports on ADP. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, April 24th. Barclays raised 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, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $303.55.

Automatic Data Processing Trading Up 1.6 %

Shares of Automatic Data Processing stock opened at $303.57 on Thursday. Automatic Data Processing has a twelve month low of $231.27 and a twelve month high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $298.19 and a 200-day moving average price of $298.69. The firm has a market cap of $123.69 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.62 and a beta of 0.74.

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

Insider Activity

In related news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,775 shares of company stock worth $1,447,893. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

Institutional investors have recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Automatic Data Processing during the first quarter worth about $30,000. Main Street Group LTD boosted its stake in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the last quarter. Abound Wealth Management increased its stake in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 43 shares in the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Company Profile

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.