Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Somerville Kurt F

Somerville Kurt F lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,936 shares of the business services provider's stock after selling 2,986 shares during the quarter. Automatic Data Processing accounts for approximately 4.1% of Somerville Kurt F's investment portfolio, making the stock its 7th largest position. Somerville Kurt F's holdings in Automatic Data Processing were worth $23,506,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Sentinus LLC boosted its stake in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after buying an additional 35 shares during the last quarter. Rehmann Capital Advisory Group increased its position 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 acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC raised 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 in the last quarter. Main Street Group LTD boosted its position in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares during the last quarter. Finally, Howard Financial Services LTD. grew its stake 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 valued at $530,000 after purchasing an additional 38 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $2.01 during trading on Thursday, reaching $306.24. 1,148,012 shares of the stock were exchanged, compared to its average volume of 1,401,269. Automatic Data Processing, Inc. has a 12 month low of $247.98 and a 12 month high of $329.93. The stock has a 50-day moving average price of $312.19 and a 200-day moving average price of $304.33. 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 firm has a market cap of $124.31 billion, a PE ratio of 31.34, a PEG ratio of 2.79 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results 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. 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 during the quarter, compared to analysts' expectations of $5.49 billion. During the same period last year, the firm posted $2.88 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADP. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research note on Thursday, July 10th. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus 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.