Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Heritage Trust Co

Key Points

• Heritage Trust Co reduced its stake in Automatic Data Processing, Inc. (ADP) by 5.8% in the first quarter, now holding shares worth $8.21 million, making it the company's 22nd largest holding.
• In the latest quarter, ADP reported $2.26 EPS, beating estimates, with revenue of $5.13 billion reflecting a 6.3% year-over-year increase.
• Currently, the stock has a market cap of $121.95 billion and analysts have set an average target price of $314.33, with a consensus rating of "Hold."

Heritage Trust Co decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,872 shares of the business services provider's stock after selling 1,662 shares during the quarter. Automatic Data Processing makes up 1.0% of Heritage Trust Co's investment portfolio, making the stock its 22nd largest position. Heritage Trust Co's holdings in Automatic Data Processing were worth $8,210,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Sentinus LLC lifted its holdings in shares of Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after acquiring an additional 35 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after buying an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its holdings in Automatic Data Processing by 2.4% during the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock valued at $478,000 after buying an additional 37 shares in the last quarter. Main Street Group LTD lifted its holdings 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 buying an additional 38 shares in the last quarter. Finally, Howard Financial Services LTD. lifted its holdings in Automatic Data Processing by 2.2% during the 1st quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock valued at $530,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADP. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a report on Thursday, July 10th. TD Securities lifted their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $314.33.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded down $0.67 during mid-day trading on Tuesday, reaching $301.59. 243,420 shares of the company traded hands, compared to its average volume of 1,749,788. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a fifty-two week low of $256.47 and a fifty-two week high of $329.93. The company has a market capitalization of $122.42 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. The firm's fifty day moving average is $309.91 and its two-hundred day moving average is $305.37.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. Automatic Data Processing's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 EPS. On average, equities research analysts expect 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.