Vision Capital Management Inc. Has $811,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Vision Capital Management Inc. boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 60.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,654 shares of the business services provider's stock after acquiring an additional 1,000 shares during the period. Vision Capital Management Inc.'s holdings in Automatic Data Processing were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. von Borstel & Associates Inc. bought a new stake in shares of Automatic Data Processing in the first quarter valued at about $30,000. Main Street Group LTD lifted its holdings in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC lifted its holdings in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after purchasing an additional 67 shares in the last quarter. Abound Wealth Management lifted its holdings in shares of Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after purchasing an additional 43 shares in the last quarter. Finally, Banque de Luxembourg S.A. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $37,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $3.17 during trading on Friday, reaching $302.65. 1,097,348 shares of the company's stock were exchanged, compared to its average volume of 1,710,573. The business has a 50 day moving average price of $313.00 and a 200-day moving average price of $303.89. The stock has a market capitalization of $122.85 billion, a P/E ratio of 30.98, a PEG ratio of 2.80 and a beta of 0.76. 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 fifty-two week low of $235.99 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, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion for 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 was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.88 earnings per share. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research reports. Morgan Stanley boosted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a report on Thursday. Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. UBS Group lowered 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. Finally, TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus price target of $309.62.

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.