Burling Wealth Partners LLC Reduces Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Burling Wealth Partners LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,423 shares of the business services provider’s stock after selling 112 shares during the quarter. Burling Wealth Partners LLC’s holdings in Automatic Data Processing were worth $435,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC raised its stake in shares of Automatic Data Processing by 29.6% during 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 last quarter. GAMMA Investing LLC lifted its stake in Automatic Data Processing by 13.8% in the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock worth $2,901,000 after acquiring an additional 1,148 shares during the period. Toronto Dominion Bank lifted its stake in Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after acquiring an additional 21,910 shares during the period. Proficio Capital Partners LLC lifted its stake in Automatic Data Processing by 42.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after acquiring an additional 1,117 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Automatic Data Processing by 8.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after acquiring an additional 20,467 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $302.12 on Friday. Automatic Data Processing, Inc. has a 12 month low of $244.65 and a 12 month high of $329.93. The stock has a market cap of $122.64 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $312.69 and its 200-day moving average price is $304.04.

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

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. UBS Group dropped their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. Morgan Stanley raised their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. TD Securities raised their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.