Sound Financial Strategies Group LLC Has $730,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Sound Financial Strategies Group LLC has decreased its stake in Automatic Data Processing, Inc. by 26.5%, holding $730,000 worth of shares after selling 862 shares in the 1st quarter.
• Institutional investors and hedge funds collectively own 80.03% of Automatic Data Processing's stock, indicating strong institutional interest.
• Analysts have mixed ratings on ADP, with an average target price of $314.33 and a consensus rating of "Hold".

Sound Financial Strategies Group LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,389 shares of the business services provider's stock after selling 862 shares during the quarter. Sound Financial Strategies Group LLC's holdings in Automatic Data Processing were worth $730,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADP. GAMMA Investing LLC raised its stake in shares of Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after buying an additional 2,892,660 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $396,714,000. Capital Research Global Investors raised its stake in shares of Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Northern Trust Corp raised its stake in shares of Automatic Data Processing by 17.1% in the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after buying an additional 902,354 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Automatic Data Processing by 128.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock valued at $484,480,000 after buying an additional 890,440 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADP. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. 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 report on Thursday, July 10th. 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 report on Wednesday, May 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. 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 report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $314.33.

Automatic Data Processing Stock Down 2.9%

Shares of NASDAQ:ADP opened at $300.44 on Friday. Automatic Data Processing, Inc. has a 12 month low of $256.47 and a 12 month high of $329.93. The company's 50-day moving average price is $310.28 and its two-hundred day moving average price is $305.26. 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 firm has a market cap of $121.95 billion, a P/E ratio of 30.10, a P/E/G ratio of 2.75 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The company's revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast 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.

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