Richard C. Young & CO. LTD. Sells 1,243 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Richard C. Young & CO. LTD. trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,798 shares of the business services provider's stock after selling 1,243 shares during the period. Automatic Data Processing accounts for 2.4% of Richard C. Young & CO. LTD.'s holdings, making the stock its 6th largest position. Richard C. Young & CO. LTD.'s holdings in Automatic Data Processing were worth $22,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $957,000. Proficio Capital Partners LLC increased its stake in Automatic Data Processing by 42.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock valued at $1,090,000 after acquiring an additional 1,117 shares during the last quarter. Horizon Investments LLC increased its stake in Automatic Data Processing by 2.5% in the fourth quarter. Horizon Investments LLC now owns 7,248 shares of the business services provider's stock valued at $2,122,000 after acquiring an additional 177 shares during the last quarter. Finally, Evoke Wealth LLC increased its stake in Automatic Data Processing by 0.8% in the fourth quarter. Evoke Wealth LLC now owns 5,900 shares of the business services provider's stock valued at $1,736,000 after acquiring an additional 44 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. TD Securities boosted 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, UBS Group decreased their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $309.62.

Automatic Data Processing Trading Down 0.1%

Shares of Automatic Data Processing stock traded down $0.33 during trading on Friday, hitting $301.79. The company's stock had a trading volume of 1,653,898 shares, compared to its average volume of 1,707,171. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a 52 week low of $244.65 and a 52 week high of $329.93. The stock has a market cap of $122.50 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The stock has a 50-day moving average price of $312.69 and a two-hundred day moving average price of $304.04.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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.