Wilkins Investment Counsel Inc. lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 82,133 shares of the business services provider's stock after selling 2,424 shares during the quarter. Automatic Data Processing comprises about 3.6% of Wilkins Investment Counsel Inc.'s portfolio, making the stock its 2nd largest holding. Wilkins Investment Counsel Inc.'s holdings in Automatic Data Processing were worth $25,094,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing in the first quarter valued at about $30,000. Main Street Group LTD increased its holdings in shares of Automatic Data Processing by 50.7% during the fourth 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 period. Abound Wealth Management raised its position 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 buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Institutional investors own 80.03% of the company's stock.
Automatic Data Processing Stock Up 0.7%
Shares of ADP opened at $306.24 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a 52 week low of $247.98 and a 52 week high of $329.93. The stock has a market capitalization of $124.31 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.79 and a beta of 0.76. The stock has a fifty day moving average of $311.99 and a 200-day moving average of $304.46.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
ADP has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Mizuho increased their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $309.62.
Get Our Latest Analysis on ADP
Automatic Data Processing Company 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.
See Also
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