Advisors Preferred LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 63.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,392 shares of the business services provider's stock after buying an additional 926 shares during the period. Advisors Preferred LLC's holdings in Automatic Data Processing were worth $733,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in ADP. Brighton Jones LLC boosted its holdings in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Automatic Data Processing in the fourth quarter valued at $957,000. Congress Wealth Management LLC DE boosted its holdings in Automatic Data Processing by 54.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 13,235 shares of the business services provider's stock valued at $3,875,000 after acquiring an additional 4,654 shares during the last quarter. Modern Wealth Management LLC boosted its holdings in Automatic Data Processing by 126.2% in the fourth quarter. Modern Wealth Management LLC now owns 3,223 shares of the business services provider's stock valued at $989,000 after acquiring an additional 1,798 shares during the last quarter. Finally, Ashton Thomas Securities LLC boosted its holdings in Automatic Data Processing by 6.1% in the fourth quarter. Ashton Thomas Securities LLC now owns 848 shares of the business services provider's stock valued at $249,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on ADP. TD Securities boosted their price objective 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. Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Morgan Stanley boosted 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. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $309.62.
Read Our Latest Research Report on Automatic Data Processing
Automatic Data Processing Stock Up 0.8%
Automatic Data Processing stock traded up $2.39 during midday trading on Friday, hitting $308.63. The stock had a trading volume of 936,145 shares, compared to its average volume of 1,343,466. 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 stock has a market cap of $125.28 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.80 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $249.49 and a 12 month high of $329.93. The business has a fifty day moving average price of $311.78 and a 200 day moving average price of $304.60.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The company 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%. The business's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 earnings per share. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.
About Automatic Data Processing
(
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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