Nicholas Hoffman & Company LLC. Acquires 873 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Nicholas Hoffman & Company LLC increased its holdings in Automatic Data Processing, Inc. by 8.0% during the first quarter, owning a total of 11,837 shares valued at approximately $3.6 million.
• Automatic Data Processing reported a quarterly earnings per share of $2.26, surpassing analysts' expectations and reflecting a 6.3% revenue growth year-over-year.
• Institutional investors hold 80.03% of Automatic Data Processing's stock, indicating significant interest from large financial entities.

Nicholas Hoffman & Company LLC. boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,837 shares of the business services provider's stock after acquiring an additional 873 shares during the quarter. Nicholas Hoffman & Company LLC.'s holdings in Automatic Data Processing were worth $3,616,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Sentinus LLC increased its position in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after purchasing an additional 35 shares during the last quarter. Syntegra Private Wealth Group LLC increased its stake in Automatic Data Processing by 4.7% in the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock worth $238,000 after purchasing an additional 35 shares during the period. Rehmann Capital Advisory Group increased its stake in Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC increased its stake in Automatic Data Processing by 2.4% in the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after purchasing an additional 37 shares during the period. Finally, Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a report on Thursday, July 10th. Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Finally, TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $314.33.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $299.44 on Wednesday. Automatic Data Processing, Inc. has a 52-week low of $256.47 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05. The firm has a market capitalization of $121.55 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.77 and a beta of 0.81. The stock has a 50 day moving average price of $309.38 and a 200 day moving average price of $305.33.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion during 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 quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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.

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