Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by IFP Advisors Inc

IFP Advisors Inc raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 16.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,964 shares of the business services provider's stock after acquiring an additional 2,508 shares during the quarter. IFP Advisors Inc's holdings in Automatic Data Processing were worth $5,489,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. von Borstel & Associates Inc. purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $30,000. Main Street Group LTD grew its holdings in Automatic Data Processing by 50.7% in 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. Abound Wealth Management grew its holdings in Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. purchased a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $2.69 during trading on Thursday, reaching $306.92. The company's stock had a trading volume of 280,250 shares, compared to its average volume of 1,750,681. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 12-month low of $247.98 and a 12-month high of $329.93. The company has a market capitalization of $124.59 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. The business has a 50 day moving average price of $312.19 and a 200-day moving average price of $304.33.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a report on Thursday, July 10th. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Morgan Stanley increased 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. Finally, TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. One equities 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 MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $309.62.

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.