Arcadia Investment Management Corp MI Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Arcadia Investment Management Corp MI reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,332 shares of the business services provider's stock after selling 1,681 shares during the period. Arcadia Investment Management Corp MI's holdings in Automatic Data Processing were worth $4,073,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. von Borstel & Associates Inc. bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $30,000. Main Street Group LTD boosted its position in shares of Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after purchasing an additional 67 shares in the last quarter. Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after purchasing an additional 43 shares in the last quarter. Finally, Banque de Luxembourg S.A. bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president owned 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ADP has been the topic of several research reports. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group dropped their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Morgan Stanley boosted their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Finally, 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $307.08.

Automatic Data Processing Stock Down 0.5%

Automatic Data Processing stock opened at $306.90 on Wednesday. The stock has a market cap of $124.58 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The stock has a fifty day moving average of $312.72 and a 200 day moving average of $303.73.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.88 earnings per share. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing 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.

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