Foster & Motley Inc. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,497 shares of the business services provider's stock after selling 910 shares during the quarter. Foster & Motley Inc.'s holdings in Automatic Data Processing were worth $1,679,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of 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 last quarter. Bank Pictet & Cie Europe AG acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $957,000. Meeder Asset Management Inc. grew its stake in Automatic Data Processing by 210.9% in the fourth quarter. Meeder Asset Management Inc. now owns 199 shares of the business services provider's stock valued at $58,000 after purchasing an additional 135 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Automatic Data Processing by 2.5% during the 4th quarter. Franklin Resources Inc. now owns 683,672 shares of the business services provider's stock worth $200,131,000 after purchasing an additional 16,604 shares during the last quarter. Finally, May Hill Capital LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $207,000. 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 $9.06 during trading on Friday, reaching $300.44. The company's stock had a trading volume of 1,791,558 shares, compared to its average volume of 1,385,865. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The business's 50-day moving average price is $310.28 and its 200-day moving average price is $305.26. Automatic Data Processing, Inc. has a 52 week low of $256.47 and a 52 week high of $329.93. The firm has a market cap of $121.95 billion, a PE ratio of 30.10, a P/E/G ratio of 2.75 and a beta of 0.81.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Morgan Stanley raised 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. Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $314.33.
View Our Latest Stock Report on ADP
About Automatic Data Processing
(
Free Report)
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.
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