Financial Counselors Inc. Purchases 1,198 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Financial Counselors Inc. raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,730 shares of the business services provider's stock after purchasing an additional 1,198 shares during the quarter. Financial Counselors Inc.'s holdings in Automatic Data Processing were worth $4,195,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. GAMMA Investing LLC increased its holdings in shares of Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock worth $886,345,000 after purchasing an additional 2,892,660 shares during the period. Norges Bank bought a new stake in Automatic Data Processing in the fourth quarter valued at about $455,993,000. Winslow Capital Management LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at about $396,714,000. Capital Research Global Investors increased its stake in Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Finally, Northern Trust Corp increased its stake in Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after acquiring an additional 902,354 shares during the period. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 1.0%

Shares of ADP stock traded down $3.17 during trading hours on Friday, hitting $302.65. 1,097,348 shares of the company were exchanged, compared to its average volume of 1,710,573. The business has a 50 day moving average of $313.00 and a two-hundred day moving average of $303.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 52 week low of $235.99 and a 52 week high of $329.93. The company has a market capitalization of $122.85 billion, a PE ratio of 30.98, a PEG ratio of 2.80 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.88 EPS. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group lowered their target price 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. Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a research note on Thursday. Finally, Mizuho boosted their price target on shares of 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.