Banque Pictet & Cie SA Purchases New Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Banque Pictet & Cie SA acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,543 shares of the business services provider's stock, valued at approximately $4,443,000.

Several other large investors also recently bought and sold shares of ADP. Wealth Advisory Solutions LLC bought a new stake in Automatic Data Processing in the first quarter valued at $201,000. Twelve Points Wealth Management LLC raised its position in Automatic Data Processing by 3.8% in the first quarter. Twelve Points Wealth Management LLC now owns 2,926 shares of the business services provider's stock worth $894,000 after acquiring an additional 108 shares in the last quarter. Rehmann Capital Advisory Group raised its position in Automatic Data Processing by 1.9% in the first quarter. Rehmann Capital Advisory Group now owns 3,757 shares of the business services provider's stock worth $1,148,000 after acquiring an additional 71 shares in the last quarter. Cornerstone Planning Group LLC raised its position in Automatic Data Processing by 57.7% in the first quarter. Cornerstone Planning Group LLC now owns 563 shares of the business services provider's stock worth $165,000 after acquiring an additional 206 shares in the last quarter. Finally, Dogwood Wealth Management LLC grew its stake in Automatic Data Processing by 3.6% during the 1st quarter. Dogwood Wealth Management LLC now owns 2,536 shares of the business services provider's stock valued at $780,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several research analyst reports. TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Royal Bank Of Canada reissued 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. UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Morgan Stanley boosted their target price 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. Finally, Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $309.62.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $2.57 during trading hours on Friday, hitting $303.25. 339,169 shares of the company's stock were exchanged, compared to its average volume of 1,708,296. The stock's 50-day moving average is $313.02 and its 200-day moving average is $303.85. 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 stock has a market cap of $123.10 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $233.14 and a 52 week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

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.