Commerce Bank Has $33.94 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Commerce Bank reduced its stake in Automatic Data Processing, Inc. by 1.4%, selling 1,594 shares during the first quarter, bringing its total holdings to 111,080 shares valued at approximately $33.94 million.
• Multiple institutional investors, including Northern Trust Corp and Capital Research Global Investors, significantly increased their stakes in ADP, showcasing a trend of growing institutional investment.
• ADP reported a quarterly EPS of $2.26, exceeding analysts' expectations of $2.23, and its revenue increased by 6.3% year-over-year to $5.13 billion.

Commerce Bank lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,080 shares of the business services provider's stock after selling 1,594 shares during the period. Commerce Bank's holdings in Automatic Data Processing were worth $33,938,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Brighton Jones LLC raised its holdings in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in Automatic Data Processing during the 4th quarter valued at about $957,000. Nicolet Advisory Services LLC grew its stake in Automatic Data Processing by 14.0% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,783 shares of the business services provider's stock valued at $511,000 after acquiring an additional 219 shares in the last quarter. World Investment Advisors grew its stake in Automatic Data Processing by 16.9% during the 4th quarter. World Investment Advisors now owns 8,730 shares of the business services provider's stock valued at $2,555,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC grew its stake in Automatic Data Processing by 5.4% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 1,734 shares of the business services provider's stock valued at $508,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded up $1.82 during midday trading on Monday, reaching $302.26. The company's stock had a trading volume of 1,560,102 shares, compared to its average volume of 1,475,446. Automatic Data Processing, Inc. has a fifty-two week low of $256.47 and a fifty-two week high of $329.93. The company has a market capitalization of $122.69 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.76 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.02. The business's fifty day simple moving average is $310.28 and its 200-day simple moving average is $305.33.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the company earned $2.09 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analyst Ratings Changes

ADP has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday. BMO Capital Markets upgraded 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. Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. 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. Finally, Royal Bank Of Canada reiterated 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $314.33.

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.