Whittier Trust Co. Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Whittier Trust Co. lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,586 shares of the business services provider's stock after selling 993 shares during the quarter. Whittier Trust Co.'s holdings in Automatic Data Processing were worth $7,206,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ADP. Golden State Wealth Management LLC boosted its stake in 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 buying an additional 129 shares during the period. GAMMA Investing LLC boosted its stake in shares of Automatic Data Processing by 13.8% during the 1st 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 period. Toronto Dominion Bank boosted its position 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 valued at $69,290,000 after buying an additional 21,910 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Automatic Data Processing by 42.8% during the fourth 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 during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position 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 valued at $76,638,000 after buying an additional 20,467 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Up 0.7%

Shares of ADP traded up $2.09 during mid-day trading on Wednesday, hitting $300.27. The company's stock had a trading volume of 1,525,481 shares, compared to its average volume of 1,707,895. The company's 50-day moving average is $312.88 and its 200-day moving average is $304.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $121.89 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.78 and a beta of 0.76. Automatic Data Processing, Inc. has a 52-week low of $242.76 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its 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 company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent analyst reports. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, UBS Group lowered 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 research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and a consensus target price of $309.62.

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.