MGO One Seven LLC Grows Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• MGO One Seven LLC increased its stake in Automatic Data Processing, Inc. by 16.9% in Q1, holding 11,473 shares valued at $3.5 million.
• Several institutional investors have also boosted their holdings in ADP, with Northern Trust Corp and Capital Research Global Investors increasing theirs by 17.1% and 26.9% respectively during the last quarter.
• Automatic Data Processing's latest quarterly earnings topped expectations, reporting $2.26 EPS on revenues of $5.13 billion, reflecting a 6.3% increase from the previous year.

MGO One Seven LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 16.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,473 shares of the business services provider's stock after acquiring an additional 1,659 shares during the period. MGO One Seven LLC's holdings in Automatic Data Processing were worth $3,505,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ADP. Northern Trust Corp increased its holdings in Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after buying an additional 902,354 shares during the period. Capital Research Global Investors lifted its holdings in Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after buying an additional 1,299,390 shares during the period. Invesco Ltd. boosted its position in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock valued at $1,137,710,000 after acquiring an additional 219,032 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 16.7% in the 4th quarter. Ameriprise Financial Inc. now owns 3,830,078 shares of the business services provider's stock valued at $1,115,909,000 after acquiring an additional 549,132 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Automatic Data Processing by 16.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,771,011 shares of the business services provider's stock valued at $1,103,888,000 after acquiring an additional 532,485 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a report on Thursday, July 10th. TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. UBS Group cut their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Finally, Mizuho boosted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $310.69.

Automatic Data Processing Trading Down 0.5%

NASDAQ:ADP opened at $309.50 on Friday. The company has a market capitalization of $125.63 billion, a P/E ratio of 31.01, a PEG ratio of 2.85 and a beta of 0.76. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 12 month low of $256.47 and a 12 month high of $329.93. The firm has a fifty day simple moving average of $310.70 and a 200-day simple moving average of $305.12.

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

About Automatic Data Processing

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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