Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Van Strum & Towne Inc.

Van Strum & Towne Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,176 shares of the business services provider's stock after selling 1,704 shares during the quarter. Automatic Data Processing accounts for about 5.2% of Van Strum & Towne Inc.'s portfolio, making the stock its 3rd largest position. Van Strum & Towne Inc.'s holdings in Automatic Data Processing were worth $15,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Golden State Wealth Management LLC grew its holdings in shares of Automatic Data Processing by 29.6% during the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock worth $173,000 after purchasing an additional 129 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after purchasing an additional 1,148 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after purchasing an additional 21,910 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after purchasing an additional 20,467 shares during the last quarter. Finally, Napatree Capital LLC grew its holdings in shares of Automatic Data Processing by 2.7% during the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock worth $936,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADP. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Morgan Stanley raised their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. TD Securities raised their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. One 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $309.62.

Automatic Data Processing Trading Up 0.7%

Shares of ADP stock traded up $2.25 on Thursday, reaching $306.48. 348,262 shares of the stock were exchanged, compared to its average volume of 1,751,410. The stock has a market cap of $124.41 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $312.19 and a two-hundred day moving average of $304.33. Automatic Data Processing, Inc. has a 1-year low of $247.98 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.88 EPS. On average, research 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.