3,641 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Florida Financial Advisors LLC

Florida Financial Advisors LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,641 shares of the business services provider's stock, valued at approximately $1,112,000.

Other large investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing in the first quarter valued at about $30,000. Main Street Group LTD boosted its stake in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares during the last quarter. Abound Wealth Management grew its holdings in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after acquiring an additional 43 shares during the period. Cyrus J. Lawrence LLC grew its holdings in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after acquiring an additional 67 shares during the period. Finally, Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing during the fourth quarter worth about $37,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Mizuho raised their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, 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 report on Tuesday, June 17th. One 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $309.62.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded up $2.09 during trading on Wednesday, reaching $300.27. The stock had a trading volume of 1,487,669 shares, compared to its average volume of 1,707,888. 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 business has a fifty day moving average price of $312.88 and a 200-day moving average price of $304.00. The stock has a market cap of $121.89 billion, a PE ratio of 30.73, a PEG ratio of 2.78 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $242.76 and a 1-year high of $329.93.

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

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.