Graybill Wealth Management LTD. Acquires Shares of 27,423 Automatic Data Processing, Inc. (NASDAQ:ADP)

Graybill Wealth Management LTD. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 27,423 shares of the business services provider's stock, valued at approximately $8,379,000. Automatic Data Processing accounts for 2.9% of Graybill Wealth Management LTD.'s holdings, making the stock its 9th largest holding.

Several other large investors also recently made changes to their positions in the company. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing during the first quarter worth approximately $30,000. Main Street Group LTD increased its stake in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC raised 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 buying an additional 67 shares during the last quarter. Abound Wealth Management raised 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 buying an additional 43 shares during the last quarter. Finally, Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ADP. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a research report on Thursday, July 10th. Mizuho lifted their price target 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 decreased their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Morgan Stanley upped their price target 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 research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $309.62.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $2.11 during mid-day trading on Thursday, reaching $302.38. 418,984 shares of the company's stock were exchanged, compared to its average volume of 1,704,723. The firm has a 50-day moving average price of $312.79 and a two-hundred day moving average price of $303.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $122.74 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $244.65 and a 52 week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. The company's revenue for the quarter was up 5.7% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current 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.