Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 194,123 shares of the business services provider's stock after selling 3,825 shares during the period. Nisa Investment Advisors LLC's holdings in Automatic Data Processing were worth $59,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. 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 purchasing an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $957,000. Assetmark Inc. grew its stake in Automatic Data Processing by 9.8% during the 4th quarter. Assetmark Inc. now owns 3,775 shares of the business services provider's stock valued at $1,105,000 after purchasing an additional 338 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Automatic Data Processing by 42.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock valued at $1,090,000 after purchasing an additional 1,117 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $44,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $3.17 during mid-day trading on Friday, reaching $302.65. 1,097,348 shares of the stock traded hands, compared to its average volume of 1,711,261. The business has a 50-day moving average of $313.02 and a 200 day moving average of $303.85. Automatic Data Processing, Inc. has a fifty-two week low of $233.14 and a fifty-two week high of $329.93. The stock has a market capitalization of $122.85 billion, a PE ratio of 30.98, a PEG ratio of 2.82 and a beta of 0.76. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADP. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a research note on Thursday. Mizuho increased their price target 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. Finally, UBS Group lowered their price target on 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus price target of $309.62.

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.