Kathmere Capital Management LLC Buys 1,041 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Kathmere Capital Management LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,162 shares of the business services provider's stock after purchasing an additional 1,041 shares during the period. Kathmere Capital Management LLC's holdings in Automatic Data Processing were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ADP. Ballentine Partners LLC boosted its holdings in shares of Automatic Data Processing by 8.5% in the 1st quarter. Ballentine Partners LLC now owns 23,226 shares of the business services provider's stock worth $7,096,000 after acquiring an additional 1,825 shares in the last quarter. Riversedge Advisors LLC boosted its holdings in shares of Automatic Data Processing by 9.6% in the 1st quarter. Riversedge Advisors LLC now owns 1,004 shares of the business services provider's stock worth $307,000 after acquiring an additional 88 shares in the last quarter. IFC Advisors LLC boosted its holdings in shares of Automatic Data Processing by 1.9% in the 1st quarter. IFC Advisors LLC now owns 5,264 shares of the business services provider's stock worth $1,608,000 after acquiring an additional 98 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Automatic Data Processing by 26.6% in the 1st quarter. Diversify Wealth Management LLC now owns 14,280 shares of the business services provider's stock worth $4,224,000 after acquiring an additional 2,998 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Automatic Data Processing by 2.5% in the 1st quarter. Xponance Inc. now owns 96,902 shares of the business services provider's stock worth $29,606,000 after acquiring an additional 2,378 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $302.65 on Friday. The stock has a market capitalization of $122.85 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.80 and a beta of 0.76. The business has a 50-day moving average of $313.00 and a 200-day moving average of $303.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a fifty-two week low of $235.99 and a fifty-two 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 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADP has been the topic of several research reports. Mizuho upped their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Morgan Stanley upped their price objective 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. Stifel Nicolaus upped their price objective on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.

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