Lindbrook Capital LLC Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Lindbrook Capital LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,510 shares of the business services provider's stock after selling 1,740 shares during the period. Lindbrook Capital LLC's holdings in Automatic Data Processing were worth $767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $957,000. American Century Companies Inc. increased its stake in Automatic Data Processing by 13.0% in the 4th quarter. American Century Companies Inc. now owns 472,131 shares of the business services provider's stock worth $138,207,000 after buying an additional 54,263 shares during the period. Sei Investments Co. grew its stake in Automatic Data Processing by 308.8% in the 4th quarter. Sei Investments Co. now owns 379,692 shares of the business services provider's stock worth $111,151,000 after acquiring an additional 286,813 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $1,375,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. 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. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Mizuho upped their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, TD Securities upped their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $309.62.

Automatic Data Processing Trading Down 0.1%

Shares of ADP stock opened at $301.79 on Monday. The business's fifty day moving average price is $312.56 and its 200 day moving average price is $304.28. The firm has a market capitalization of $122.50 billion, a PE ratio of 30.89, a P/E/G ratio of 2.76 and a beta of 0.76. 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 1-year low of $245.80 and a 1-year 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 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter last year, the business earned $2.88 earnings per share. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.