Automatic Data Processing (NASDAQ:ADP) Given New $315.00 Price Target at Royal Bank of Canada

Automatic Data Processing (NASDAQ:ADPGet Free Report) had its price target hoisted by research analysts at Royal Bank of Canada from $267.00 to $315.00 in a report released on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 8.44% from the company’s current price.

Several other research firms have also recently issued reports on ADP. Jefferies Financial Group raised their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus increased their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Barclays upped their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $282.00.

Read Our Latest Analysis on Automatic Data Processing

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded down $2.31 during trading hours on Thursday, hitting $290.47. 771,836 shares of the company’s stock were exchanged, compared to its average volume of 1,628,645. Automatic Data Processing has a 1-year low of $205.53 and a 1-year high of $294.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $118.89 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 3.13 and a beta of 0.79. The company’s 50-day moving average price is $280.80 and its 200-day moving average price is $259.38.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $2.08 EPS. On average, sell-side analysts expect that Automatic Data Processing will post 10.04 earnings per share for the current fiscal year.

Insider Activity

In other news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by company insiders.

Institutional Trading of Automatic Data Processing

Several institutional investors have recently modified their holdings of the business. TD Asset Management Inc lifted its stake in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares during the period. Assenagon Asset Management S.A. grew its holdings in Automatic Data Processing by 70.7% in the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after purchasing an additional 264,466 shares during the period. SG Americas Securities LLC grew its stake in shares of Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the period. Toronto Dominion Bank increased its holdings in shares of Automatic Data Processing by 1.7% during the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after acquiring an additional 4,253 shares in the last quarter. Finally, Plato Investment Management Ltd raised its position in shares of Automatic Data Processing by 23.8% during the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after purchasing an additional 5,114 shares during the period. Institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

(Get Free Report)

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.

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