Private Advisor Group LLC Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Private Advisor Group LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 19.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,892 shares of the business services provider's stock after buying an additional 3,605 shares during the quarter. Private Advisor Group LLC's holdings in Automatic Data Processing were worth $6,689,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group decreased their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. TD Securities upped their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley raised their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $309.62.

Automatic Data Processing Trading Up 0.7%

Shares of NASDAQ ADP traded up $2.09 during mid-day trading on Thursday, reaching $306.32. The company had a trading volume of 257,976 shares, compared to its average volume of 1,750,681. The business's 50-day moving average is $312.19 and its 200-day moving average is $304.33. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market cap of $124.34 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $247.98 and a 52 week 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 analyst estimates of $5.49 billion. During the same period last year, the firm posted $2.88 EPS. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. Equities analysts expect 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.