Xponance Inc. Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Xponance Inc. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,902 shares of the business services provider's stock after buying an additional 2,378 shares during the quarter. 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 modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at about $30,000. Main Street Group LTD lifted its position in Automatic Data Processing by 50.7% during the 4th 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 in the last quarter. Abound Wealth Management lifted its position in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after acquiring an additional 43 shares in the last quarter. Cyrus J. Lawrence LLC lifted its position in Automatic Data Processing by 121.8% during the 4th 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 in the last quarter. Finally, Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the topic of several recent research reports. Morgan Stanley boosted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Royal Bank Of Canada reissued 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. TD Securities upped their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $309.62.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $305.82 on Friday. Automatic Data Processing, Inc. has a twelve month low of $233.14 and a twelve month high of $329.93. 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 company has a market capitalization of $124.14 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76. The business has a 50 day simple moving average of $313.02 and a 200-day simple moving average of $303.85.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating 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 the consensus estimate of $5.49 billion. During the same period in the previous year, the business earned $2.88 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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.

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