Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Woodley Farra Manion Portfolio Management Inc.

Key Points

• Woodley Farra Manion Portfolio Management Inc. increased its stake in Automatic Data Processing (NASDAQ:ADP) by 1.7%, acquiring an additional 2,162 shares, bringing its total holdings to 131,660 shares valued at approximately $40.4 million.
• As of recent broker ratings, Automatic Data Processing has received several upgrades, with BMO Capital Markets setting a target price of $340.00 and an average rating of "Hold" across the board.
• The company's latest earnings report showed an earnings per share (EPS) of $3.06, outperforming estimates and reflecting a 5.7% year-over-year revenue growth.

Woodley Farra Manion Portfolio Management Inc. boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,660 shares of the business services provider's stock after purchasing an additional 2,162 shares during the period. Automatic Data Processing makes up 2.0% of Woodley Farra Manion Portfolio Management Inc.'s holdings, making the stock its 23rd biggest holding. Woodley Farra Manion Portfolio Management Inc.'s holdings in Automatic Data Processing were worth $40,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $957,000. Schroder Investment Management Group boosted its position in shares of Automatic Data Processing by 4.5% during the 4th quarter. Schroder Investment Management Group now owns 238,388 shares of the business services provider's stock worth $69,841,000 after purchasing an additional 10,250 shares during the period. Meeder Asset Management Inc. increased its holdings in Automatic Data Processing by 210.9% in the 4th quarter. Meeder Asset Management Inc. now owns 199 shares of the business services provider's stock valued at $58,000 after purchasing an additional 135 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Automatic Data Processing by 2.5% in the fourth quarter. Franklin Resources Inc. now owns 683,672 shares of the business services provider's stock valued at $200,131,000 after purchasing an additional 16,604 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 2.9%

Shares of ADP stock traded down $9.06 on Friday, reaching $300.44. 1,791,558 shares of the stock were exchanged, compared to its average volume of 1,385,865. The company has a market capitalization of $121.95 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.84 and a beta of 0.81. The business's 50 day moving average price is $310.70 and its 200 day moving average price is $305.12. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a twelve month low of $256.47 and a twelve month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the prior year, the firm posted $2.09 EPS. The business's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group reduced their price target on shares of 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. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday. Finally, Mizuho lifted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $310.69.

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.