Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Lessened by Kidder Stephen W

Kidder Stephen W reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,962 shares of the business services provider's stock after selling 1,120 shares during the period. Automatic Data Processing comprises about 5.1% of Kidder Stephen W's holdings, making the stock its 2nd largest holding. Kidder Stephen W's holdings in Automatic Data Processing were worth $16,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. von Borstel & Associates Inc. acquired a new stake in shares of Automatic Data Processing in the first quarter valued at $30,000. Main Street Group LTD raised its stake in shares of 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 valued at $33,000 after acquiring an additional 38 shares in the last quarter. Abound Wealth Management raised its stake in shares of Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP traded up $2.39 during midday trading on Friday, reaching $308.63. 936,145 shares of the stock were exchanged, compared to its average volume of 1,343,466. The business's 50-day moving average price is $311.78 and its 200 day moving average price is $304.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a twelve month low of $249.49 and a twelve month high of $329.93. The company has a market capitalization of $125.28 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.80 and a beta of 0.76.

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, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a research note on Thursday, July 10th. UBS Group cut their price target on 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. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Morgan Stanley raised their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.