Trek Financial LLC Makes New $320,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Trek Financial LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,049 shares of the business services provider's stock, valued at approximately $320,000.

Several other hedge funds have 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 during the 1st quarter worth $30,000. Main Street Group LTD grew its holdings 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. Cyrus J. Lawrence LLC grew its holdings in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after purchasing an additional 67 shares during the period. Abound Wealth Management grew its holdings 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. Finally, Banque de Luxembourg S.A. purchased a new position in Automatic Data Processing during the 4th quarter valued at about $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ADP shares. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research note on Thursday. TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. UBS Group cut their target price 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. Morgan Stanley raised their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Finally, Mizuho lifted 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $309.62.

Automatic Data Processing Stock Down 0.7%

Shares of NASDAQ:ADP traded down $2.23 during mid-day trading on Friday, hitting $303.59. 322,628 shares of the company traded hands, compared to its average volume of 1,708,228. The firm has a market cap of $123.23 billion, a P/E ratio of 31.06, a PEG ratio of 2.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a 52-week low of $233.14 and a 52-week high of $329.93. The firm's 50 day simple moving average is $313.02 and its 200 day simple moving average is $303.85.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the business posted $2.88 EPS. The company's revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

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.