Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Creekmur Asset Management LLC

Creekmur Asset Management LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 21,050.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 846 shares of the business services provider's stock after acquiring an additional 842 shares during the quarter. Creekmur Asset Management LLC's holdings in Automatic Data Processing were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 277,324 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 65,965 shares during the last quarter. Northern Trust Corp boosted its holdings in 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 purchasing an additional 902,354 shares during the last quarter. Capital Research Global Investors boosted its holdings in 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 purchasing an additional 1,299,390 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings 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 worth $1,137,710,000 after acquiring an additional 219,032 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

NASDAQ:ADP traded down $0.33 during mid-day trading on Friday, hitting $301.79. 1,653,898 shares of the company's stock traded hands, compared to its average volume of 1,710,240. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The firm's 50 day simple moving average is $312.56 and its 200 day simple moving average is $304.18. Automatic Data Processing, Inc. has a 1 year low of $245.80 and a 1 year high of $329.93. The company has a market cap of $122.50 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.76 and a beta of 0.76.

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

Wall Street Analysts Forecast Growth

ADP has been the topic of several recent research reports. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Stifel Nicolaus upped their target price 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 increased their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Mizuho increased their price objective 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 issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.