Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by PFG Advisors

PFG Advisors raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 38.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,616 shares of the business services provider's stock after acquiring an additional 4,304 shares during the period. PFG Advisors' holdings in Automatic Data Processing were worth $4,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in ADP. HighPoint Advisor Group LLC raised its holdings in Automatic Data Processing by 2.6% during the first quarter. HighPoint Advisor Group LLC now owns 14,378 shares of the business services provider's stock worth $4,253,000 after purchasing an additional 368 shares in the last quarter. Gries Financial LLC purchased a new position in Automatic Data Processing in the first quarter valued at about $295,000. Crestwood Advisors Group LLC increased its stake in shares of Automatic Data Processing by 3.1% during the 1st quarter. Crestwood Advisors Group LLC now owns 4,654 shares of the business services provider's stock worth $1,422,000 after purchasing an additional 140 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Automatic Data Processing by 583.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 66,839 shares of the business services provider's stock worth $20,421,000 after purchasing an additional 57,054 shares in the last quarter. Finally, Wealth Alliance LLC increased its stake in shares of Automatic Data Processing by 4.6% during the 1st quarter. Wealth Alliance LLC now owns 3,112 shares of the business services provider's stock worth $951,000 after purchasing an additional 138 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.1%

Shares of ADP opened at $301.43 on Tuesday. The stock has a market capitalization of $122.36 billion, a P/E ratio of 30.85, a P/E/G ratio of 2.76 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $245.80 and a 1-year high of $329.93. The business's 50-day moving average price is $312.56 and its 200 day moving average price is $304.28. 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 (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 for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share. Analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. Mizuho boosted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. TD Securities boosted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus increased their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, BMO Capital Markets upgraded shares of 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $309.62.

About Automatic Data Processing

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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