Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Increased by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,139 shares of the business services provider's stock after purchasing an additional 2,710 shares during the quarter. Automatic Data Processing accounts for approximately 2.2% of Ascent Wealth Partners LLC's portfolio, making the stock its 7th largest position. Ascent Wealth Partners LLC's holdings in Automatic Data Processing were worth $16,236,000 at the end of the most recent quarter.

Other hedge funds and other institutional 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 $30,000. Main Street Group LTD grew its stake in shares of Automatic Data Processing by 50.7% in the 4th 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. Cyrus J. Lawrence LLC grew its position in 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 buying an additional 67 shares during the period. Abound Wealth Management grew its position in 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 buying an additional 43 shares during the period. Finally, Banque de Luxembourg S.A. bought a new position in Automatic Data Processing during the fourth quarter valued at about $37,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.1%

Shares of Automatic Data Processing stock traded down $0.33 on Friday, hitting $301.79. The stock had a trading volume of 1,653,898 shares, compared to its average volume of 1,710,240. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a one year low of $245.80 and a one year high of $329.93. The stock has a market cap of $122.50 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.76 and a beta of 0.76. The stock's 50-day simple moving average is $312.56 and its two-hundred day simple moving average is $304.18.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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 business 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 company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm 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.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADP shares. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group dropped 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 report on Friday, June 13th. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Morgan Stanley increased their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $309.62.

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.