J.W. Cole Advisors Inc. Acquires 4,305 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

J.W. Cole Advisors Inc. increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 71.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,337 shares of the business services provider's stock after purchasing an additional 4,305 shares during the period. J.W. Cole Advisors Inc.'s holdings in Automatic Data Processing were worth $3,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ADP. Signet Investment Advisory Group Inc. grew its position in Automatic Data Processing by 5.3% during the first quarter. Signet Investment Advisory Group Inc. now owns 769 shares of the business services provider's stock valued at $235,000 after acquiring an additional 39 shares during the last quarter. BKM Wealth Management LLC boosted its stake in shares of Automatic Data Processing by 13.4% in the 1st quarter. BKM Wealth Management LLC now owns 5,836 shares of the business services provider's stock valued at $1,783,000 after purchasing an additional 690 shares in the last quarter. Twin Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 49.4% during the 1st quarter. Twin Capital Management Inc. now owns 7,808 shares of the business services provider's stock valued at $2,386,000 after purchasing an additional 2,583 shares during the last quarter. IFP Advisors Inc raised its position in Automatic Data Processing by 16.2% in the 1st quarter. IFP Advisors Inc now owns 17,964 shares of the business services provider's stock worth $5,489,000 after purchasing an additional 2,508 shares during the period. Finally, OneAscent Financial Services LLC lifted its stake in Automatic Data Processing by 157.1% in the first quarter. OneAscent Financial Services LLC now owns 5,052 shares of the business services provider's stock worth $1,546,000 after purchasing an additional 3,087 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $301.79 on Monday. Automatic Data Processing, Inc. has a one year low of $245.80 and a one year high of $329.93. The stock has a 50-day moving average of $312.56 and a 200 day moving average of $304.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $122.50 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.76 and a beta of 0.76.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ADP shares. Stifel Nicolaus lifted their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Mizuho upped their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. UBS Group cut their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $309.62.

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.

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