Cullen Frost Bankers Inc. Acquires 679 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cullen Frost Bankers Inc. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,479 shares of the business services provider’s stock after purchasing an additional 679 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Automatic Data Processing were worth $27,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC lifted its holdings in Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 129 shares during the period. GAMMA Investing LLC lifted its stake in shares of Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock worth $2,901,000 after purchasing an additional 1,148 shares during the period. Toronto Dominion Bank lifted its stake in shares of Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after purchasing an additional 21,910 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 1,117 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Automatic Data Processing by 8.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after purchasing an additional 20,467 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 1.7%

Automatic Data Processing stock opened at $298.18 on Wednesday. The stock has a market cap of $121.04 billion, a P/E ratio of 30.52, a PEG ratio of 2.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a 1 year low of $242.76 and a 1 year high of $329.93. The firm’s 50 day moving average price is $312.88 and its 200-day moving average price is $304.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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 net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm posted $2.88 EPS. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on ADP shares. Mizuho increased their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Finally, UBS Group lowered their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $309.62.

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.