LPL Financial LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• LPL Financial LLC increased its holdings in Automatic Data Processing, Inc. by 7.4% during the first quarter, owning 645,214 shares worth approximately $197.1 million.
• Wall Street analysts have raised their price targets for ADP stock, with estimates reaching as high as $332.00 and a consensus "Hold" rating.
• For its latest quarter, ADP reported an earnings per share (EPS) of $3.06, exceeding analyst expectations and showing a 5.7% revenue growth year-over-year.

LPL Financial LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 645,214 shares of the business services provider's stock after acquiring an additional 44,189 shares during the quarter. LPL Financial LLC owned about 0.16% of Automatic Data Processing worth $197,132,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in Automatic Data Processing during the 1st quarter worth about $30,000. Main Street Group LTD increased its position in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Abound Wealth Management increased its position in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after purchasing an additional 43 shares in the last quarter. Banque de Luxembourg S.A. purchased a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Mizuho lifted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Morgan Stanley raised their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday. BMO Capital Markets raised 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. 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. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and an average target price of $310.69.

Automatic Data Processing Stock Down 2.6%

Automatic Data Processing stock traded down $8.14 during midday trading on Friday, hitting $301.36. 791,481 shares of the company were exchanged, compared to its average volume of 1,754,514. The company's fifty day moving average price is $310.70 and its 200-day moving average price is $305.12. The company has a market cap of $122.33 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.85 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a fifty-two week low of $256.47 and a fifty-two week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. Automatic Data Processing's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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.