Xponance Inc. Has $29.61 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Xponance Inc. grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,902 shares of the business services provider's stock after acquiring an additional 2,378 shares during the period. Xponance Inc.'s holdings in Automatic Data Processing were worth $29,606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. von Borstel & Associates Inc. purchased a new stake in Automatic Data Processing during the first quarter worth about $30,000. Main Street Group LTD raised its position in 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 acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after acquiring an additional 67 shares during the last quarter. Abound Wealth Management raised its position in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Finally, Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

ADP traded down $3.17 on Friday, reaching $302.65. The company had a trading volume of 1,097,348 shares, compared to its average volume of 1,710,573. The company has a fifty day moving average of $313.02 and a 200-day moving average of $303.85. The company has a market capitalization of $122.85 billion, a P/E ratio of 30.98, a PEG ratio of 2.80 and a beta of 0.76. 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, Inc. has a one year low of $235.99 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping 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 business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the firm posted $2.88 earnings per share. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of analyst reports. TD Securities boosted their price objective 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. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. UBS Group decreased their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Stifel Nicolaus upped 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, BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average target price of $309.62.

Automatic Data Processing 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.