Wealthfront Advisers LLC Acquires 2,145 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealthfront Advisers LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,837 shares of the business services provider's stock after purchasing an additional 2,145 shares during the period. Wealthfront Advisers LLC's holdings in Automatic Data Processing were worth $14,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sentinus LLC boosted its stake in Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after buying an additional 36 shares during the period. Detalus Advisors LLC grew its holdings in Automatic Data Processing by 2.4% during the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after acquiring an additional 37 shares during the period. Main Street Group LTD raised its position in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Finally, Howard Financial Services LTD. raised its position in Automatic Data Processing by 2.2% in the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock worth $530,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADP. UBS Group lowered their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. 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 research report on Tuesday, June 17th. Finally, Mizuho increased their price target 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $309.62.

Automatic Data Processing Stock Up 0.8%

NASDAQ:ADP traded up $2.39 on Thursday, hitting $302.66. 602,496 shares of the company's stock traded hands, compared to its average volume of 1,705,484. The firm has a 50-day moving average price of $312.79 and a 200-day moving average price of $303.97. 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 has a market cap of $122.86 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. Automatic Data Processing, Inc. has a 1 year low of $244.65 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly 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. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the company posted $2.88 EPS. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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.