TD Securities Issues Positive Forecast for Automatic Data Processing (NASDAQ:ADP) Stock Price

Automatic Data Processing (NASDAQ:ADP) had its target price lifted by research analysts at TD Securities from $298.00 to $321.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. TD Securities’ target price suggests a potential downside of 0.56% from the company’s current price.

ADP has been the subject of several other reports. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Stifel Nicolaus increased their price objective on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. UBS Group boosted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, May 1st. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $305.64.

Automatic Data Processing Price Performance

ADP opened at $322.80 on Wednesday. The business’s 50-day moving average is $299.51 and its two-hundred day moving average is $300.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing has a 1 year low of $231.27 and a 1 year high of $323.17. The firm has a market capitalization of $131.03 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm posted $2.88 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing will post 9.93 earnings per share for the current fiscal 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 on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 in the last quarter. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Automatic Data Processing by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock worth $12,511,418,000 after purchasing an additional 218,614 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock valued at $3,098,305,000 after purchasing an additional 65,965 shares during the last quarter. Northern Trust Corp grew its stake in shares of Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock valued at $1,807,438,000 after buying an additional 902,354 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Automatic Data Processing by 26.9% during the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after buying an additional 601,400 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

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.