Blair William & Co. IL Sells 4,478 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Blair William & Co. IL reduced its stake in Automatic Data Processing, Inc. by 1.7%, owning 258,819 shares valued at approximately $79 million after selling 4,478 shares in the first quarter.
• The stock of Automatic Data Processing recently saw a 2.9% decline, opening at $300.44, with a market capitalization of $121.95 billion.
• In its last earnings report, Automatic Data Processing exceeded expectations with earnings per share (EPS) of $2.26, surpassing the consensus estimate of $2.23.

Blair William & Co. IL lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 258,819 shares of the business services provider's stock after selling 4,478 shares during the period. Blair William & Co. IL owned 0.06% of Automatic Data Processing worth $79,077,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after purchasing an additional 2,892,660 shares in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $396,714,000. Capital Research Global Investors boosted its stake in shares of Automatic Data Processing by 26.9% during 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 purchasing an additional 1,299,390 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Automatic Data Processing by 17.1% during 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 purchasing an additional 902,354 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Automatic Data Processing by 128.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock valued at $484,480,000 after purchasing an additional 890,440 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 2.9%

Shares of Automatic Data Processing stock opened at $300.44 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05. The stock has a market capitalization of $121.95 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 2.75 and a beta of 0.81. Automatic Data Processing, Inc. has a 52-week low of $256.47 and a 52-week high of $329.93. The company has a 50-day simple moving average of $310.28 and a two-hundred day simple moving average of $305.26.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. TD Securities lifted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday. UBS Group lowered their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research report on Thursday, July 10th. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $314.33.

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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