Wesleyan Assurance Society Sells 2,600 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Wesleyan Assurance Society cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,600 shares of the business services provider's stock after selling 2,600 shares during the quarter. Wesleyan Assurance Society's holdings in Automatic Data Processing were worth $5,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in Automatic Data Processing in the 1st quarter worth $30,000. Main Street Group LTD grew its position in Automatic Data Processing by 50.7% in 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 last quarter. Abound Wealth Management grew its position in Automatic Data Processing by 58.1% in 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 last quarter. Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing in the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing in the 4th quarter worth $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ADP shares. UBS Group reduced their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Mizuho raised their price objective 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. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. 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. Finally, TD Securities raised their price objective 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $309.62.

Automatic Data Processing Price Performance

ADP stock traded up $2.26 during trading on Thursday, hitting $306.49. 597,967 shares of the stock traded hands, compared to its average volume of 1,752,755. Automatic Data Processing, Inc. has a one year low of $247.98 and a one year high of $329.93. The stock has a market cap of $124.41 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 2.77 and a beta of 0.76. The company has a 50 day simple moving average of $312.19 and a 200 day simple moving average of $304.33. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the firm posted $2.88 EPS. The firm's quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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.