Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by OneAscent Financial Services LLC

OneAscent Financial Services LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 157.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,052 shares of the business services provider's stock after purchasing an additional 3,087 shares during the period. OneAscent Financial Services LLC's holdings in Automatic Data Processing were worth $1,546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 0.7% in the 4th 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 65,965 shares in the last quarter. Northern Trust Corp raised its stake in shares of 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 acquiring an additional 902,354 shares in the last quarter. Capital Research Global Investors raised its stake 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 valued at $1,796,415,000 after acquiring an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. raised its stake 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 valued at $1,137,710,000 after acquiring an additional 219,032 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $301.79 on Monday. The stock's fifty day simple moving average is $312.56 and its 200 day simple moving average is $304.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $122.50 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 2.76 and a beta of 0.76. Automatic Data Processing, Inc. has a one year low of $245.80 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results 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 for 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%. Automatic Data Processing's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.88 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on ADP. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Mizuho raised their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Morgan Stanley lifted their price objective on 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 research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.

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