Hoxton Planning & Management LLC Purchases New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

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Hoxton Planning & Management LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,092 shares of the business services provider's stock, valued at approximately $945,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Golden State Wealth Management LLC increased 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 worth $173,000 after acquiring an additional 129 shares in the last quarter. GAMMA Investing LLC raised its stake in Automatic Data Processing by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after acquiring an additional 1,148 shares during the period. Toronto Dominion Bank raised its position in shares of Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after buying an additional 21,910 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Automatic Data Processing by 8.9% in the first 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. Finally, Brighton Jones LLC increased its position in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADP. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research report on Thursday. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $314.33.

Automatic Data Processing Trading Down 2.9%

Shares of NASDAQ ADP traded down $9.06 during trading on Friday, hitting $300.44. 1,791,558 shares of the company were exchanged, compared to its average volume of 1,385,865. The firm has a market capitalization 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, Inc. has a 12-month low of $256.47 and a 12-month high of $329.93. The company has a fifty day moving average price of $310.28 and a 200-day moving average price of $305.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05.

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, topping analysts' consensus estimates of $2.23 by $0.03. The company 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%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

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.