Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Shufro Rose & Co. LLC

Key Points

• Shufro Rose & Co. LLC has reduced its holdings in Automatic Data Processing by 79.6%, now owning 1,192 shares valued at $364,000.
• Analysts have varied opinions on Automatic Data Processing, with target price adjustments reflecting a consensus average of $314.33 and a notable rating of "Hold."
• Automatic Data Processing reported a 6.3% increase in quarterly revenue year-over-year, reaching $5.13 billion, and surpassed earnings estimates with $2.26 EPS.

Shufro Rose & Co. LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 79.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,192 shares of the business services provider's stock after selling 4,653 shares during the period. Shufro Rose & Co. LLC's holdings in Automatic Data Processing were worth $364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $30,000. Main Street Group LTD grew its stake in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares during the period. Abound Wealth Management grew its stake in shares of Automatic Data Processing by 58.1% during the 1st 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. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Up 0.6%

ADP traded up $1.82 on Monday, reaching $302.26. The company's stock had a trading volume of 1,560,102 shares, compared to its average volume of 1,475,446. The stock has a 50 day moving average of $310.28 and a two-hundred day moving average of $305.33. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $122.69 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.76 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $256.47 and a fifty-two week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a research note on Thursday, July 10th. Mizuho lifted their target price 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. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, UBS Group lowered 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 research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $314.33.

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.