Mutual Advisors LLC Sells 472 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mutual Advisors LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,882 shares of the business services provider’s stock after selling 472 shares during the quarter. Mutual Advisors LLC’s holdings in Automatic Data Processing were worth $1,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Automatic Data Processing by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock valued at $9,224,713,000 after purchasing an additional 412,434 shares in the last quarter. Wellington Management Group LLP raised its stake in Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after purchasing an additional 249,566 shares in the last quarter. Capital Research Global Investors raised its stake in Automatic Data Processing by 22.5% during the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after purchasing an additional 649,791 shares in the last quarter. Nordea Investment Management AB raised its stake in Automatic Data Processing by 27.7% during the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Automatic Data Processing by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,970,465 shares of the business services provider’s stock valued at $459,057,000 after purchasing an additional 54,816 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.5 %

ADP stock opened at $234.71 on Wednesday. The company has a market capitalization of $96.06 billion, a PE ratio of 26.20, a P/E/G ratio of 2.36 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The firm’s 50-day moving average is $244.49 and its 200 day moving average is $244.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the business earned $2.52 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADP. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. TD Cowen reduced their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Barclays increased their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $255.42.

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About Automatic Data Processing

(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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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