Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% during the first quarter, HoldingsChannel.com reports. The fund owned 5,367 shares of the business services provider’s stock after acquiring an additional 200 shares during the period. Asset Advisors Investment Management LLC’s holdings in Automatic Data Processing were worth $1,640,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at $30,000. Main Street Group LTD increased its holdings in Automatic Data Processing by 50.7% during 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 during the period. Cyrus J. Lawrence LLC increased its holdings 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 period. Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares in the last quarter. Finally, Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADP shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Morgan Stanley upped their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Mizuho upped their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Finally, BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $309.62.

Automatic Data Processing Price Performance

ADP stock opened at $300.27 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $244.65 and a 52-week high of $329.93. The stock’s fifty day simple moving average is $312.79 and its 200-day simple moving average is $303.97. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $121.89 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

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.