Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Lifted by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,379 shares of the business services provider's stock after purchasing an additional 944 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Automatic Data Processing were worth $1,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Vanguard Group Inc. lifted its stake in Automatic Data Processing by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock valued at $11,923,265,000 after acquiring an additional 277,324 shares during the last quarter. Geode Capital Management LLC increased its holdings in Automatic Data Processing by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock valued at $3,098,305,000 after buying an additional 65,965 shares during the period. Northern Trust Corp increased its holdings in Automatic Data Processing by 17.1% in the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after buying an additional 902,354 shares during the period. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Automatic Data Processing by 6.0% in the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock worth $1,137,710,000 after purchasing an additional 219,032 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $306.90 on Wednesday. The firm has a market cap of $124.58 billion, a P/E ratio of 31.41, a P/E/G ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The business's 50 day moving average price is $312.72 and its 200-day moving average price is $303.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02.

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 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADP shares. UBS Group reduced 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 research report on Friday, June 13th. TD Securities increased their target price 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. Mizuho raised their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Morgan Stanley raised their target price on shares of 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $307.08.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president directly owned 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by company insiders.

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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