Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Trimmed by Zevin Asset Management LLC

Zevin Asset Management LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,073 shares of the business services provider's stock after selling 11,518 shares during the quarter. Automatic Data Processing accounts for approximately 4.6% of Zevin Asset Management LLC's holdings, making the stock its 4th biggest holding. Zevin Asset Management LLC's holdings in Automatic Data Processing were worth $28,742,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Loudon Investment Management LLC increased its position in shares of Automatic Data Processing by 6.5% during the first quarter. Loudon Investment Management LLC now owns 4,836 shares of the business services provider's stock worth $1,478,000 after acquiring an additional 295 shares during the period. KLP Kapitalforvaltning AS increased its position in shares of Automatic Data Processing by 0.6% during the first quarter. KLP Kapitalforvaltning AS now owns 187,079 shares of the business services provider's stock worth $57,400,000 after acquiring an additional 1,200 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Automatic Data Processing by 75.5% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 737,403 shares of the business services provider's stock worth $245,991,000 after acquiring an additional 317,146 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Automatic Data Processing by 1.0% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 525,844 shares of the business services provider's stock valued at $160,661,000 after purchasing an additional 5,233 shares in the last quarter. Finally, Garner Asset Management Corp increased its holdings in Automatic Data Processing by 6.9% during the first quarter. Garner Asset Management Corp now owns 4,295 shares of the business services provider's stock valued at $1,312,000 after buying an additional 276 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group cut their price target 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. Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, TD Securities lifted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $309.62.

Automatic Data Processing Price Performance

Shares of ADP traded up $2.11 during mid-day trading on Tuesday, hitting $303.01. 414,962 shares of the company were exchanged, compared to its average volume of 1,702,097. Automatic Data Processing, Inc. has a 1-year low of $245.80 and a 1-year high of $329.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average of $312.56 and a 200-day moving average of $304.28. The stock has a market cap of $123.00 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 2.76 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 net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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.

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