Welch & Forbes LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 241,138 shares of the business services provider's stock after selling 1,426 shares during the period. Welch & Forbes LLC owned 0.06% of Automatic Data Processing worth $73,675,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in Automatic Data Processing by 29.6% in the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock valued at $173,000 after buying an additional 129 shares in the last quarter. GAMMA Investing LLC grew its stake in Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock valued at $2,901,000 after buying an additional 1,148 shares in the last quarter. Toronto Dominion Bank grew its stake in Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after buying an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock valued at $1,090,000 after buying an additional 1,117 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Automatic Data Processing by 8.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock valued at $76,638,000 after buying an additional 20,467 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ADP. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. TD Securities increased their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research report on Thursday, July 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One equities research 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, the company currently has a consensus rating of "Hold" and a consensus price target of $309.62.
Check Out Our Latest Stock Analysis on Automatic Data Processing
Automatic Data Processing Stock Down 0.3%
NASDAQ ADP traded down $0.76 during mid-day trading on Friday, reaching $301.36. The stock had a trading volume of 509,316 shares, compared to its average volume of 1,702,699. Automatic Data Processing, Inc. has a 1 year low of $244.65 and a 1 year high of $329.93. The stock has a market cap of $122.33 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. The company has a fifty day moving average price of $312.69 and a 200 day moving average price of $304.04. 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 (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the previous year, the business earned $2.88 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.
Automatic Data Processing Profile
(
Free Report)
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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