Diversify Wealth Management LLC Buys 2,998 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Diversify Wealth Management LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,280 shares of the business services provider's stock after buying an additional 2,998 shares during the quarter. Diversify Wealth Management LLC's holdings in Automatic Data Processing were worth $4,224,000 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 stock. Golden State Wealth Management LLC lifted its stake in shares of Automatic Data Processing by 29.6% in the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock valued at $173,000 after acquiring an additional 129 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock valued at $2,901,000 after acquiring an additional 1,148 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after acquiring an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC raised its position in Automatic Data Processing by 42.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock worth $1,090,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Automatic Data Processing by 8.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after purchasing an additional 20,467 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $3.17 during mid-day trading on Friday, hitting $302.65. 1,097,348 shares of the stock were exchanged, compared to its average volume of 1,710,573. Automatic Data Processing, Inc. has a 12 month low of $235.99 and a 12 month high of $329.93. The company has a 50-day simple moving average of $313.02 and a 200 day simple moving average of $303.85. 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 company has a market capitalization of $122.85 billion, a P/E ratio of 30.98, a P/E/G ratio of 2.80 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted 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. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter last year, the firm earned $2.88 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Mizuho raised their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. UBS Group reduced their target price 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. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, TD Securities raised 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. 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. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average price target of $309.62.

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.