Bleakley Financial Group LLC Has $4.16 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bleakley Financial Group LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,614 shares of the business services provider's stock after selling 1,951 shares during the period. Bleakley Financial Group LLC's holdings in Automatic Data Processing were worth $4,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADP. Golden State Wealth Management LLC raised its stake in shares of Automatic Data Processing by 29.6% during the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock worth $173,000 after buying an additional 129 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after buying an additional 1,148 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after buying an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Automatic Data Processing by 42.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock worth $1,090,000 after buying an additional 1,117 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after buying an additional 20,467 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ADP shares. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. Mizuho boosted 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 reaffirmed 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, BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $309.62.

Automatic Data Processing Stock Down 0.4%

Shares of Automatic Data Processing stock traded down $1.17 on Friday, hitting $300.96. The company had a trading volume of 639,235 shares, compared to its average volume of 1,703,223. The firm has a market capitalization of $122.16 billion, a P/E ratio of 30.80, a P/E/G ratio of 2.75 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $244.65 and a twelve month high of $329.93. 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 50-day moving average of $312.69 and a 200-day moving average of $304.04.

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, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.88 earnings per share. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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.