Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Increased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,997 shares of the business services provider’s stock after buying an additional 725 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Automatic Data Processing were worth $1,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Heritage Investment Group Inc. lifted its stake in Automatic Data Processing by 1.9% during the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after buying an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. lifted its holdings in shares of Automatic Data Processing by 0.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after buying an additional 42 shares during the last quarter. Argus Investors Counsel Inc. boosted its holdings in Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after purchasing an additional 43 shares during the period. Morningstar Investment Management LLC lifted its stake in shares of Automatic Data Processing by 1.7% in the fourth quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock valued at $634,000 after buying an additional 46 shares during the period. Finally, Simon Quick Advisors LLC grew its holdings in shares of Automatic Data Processing by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after purchasing an additional 47 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADP. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday. TD Cowen lowered their price objective on 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. Barclays lifted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $255.42.

Get Our Latest Stock Report on Automatic Data Processing

Automatic Data Processing Stock Down 0.6 %

NASDAQ:ADP opened at $235.56 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a market cap of $96.41 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 2.39 and a beta of 0.78. The stock’s fifty day moving average price is $244.84 and its two-hundred day moving average price is $243.79.

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

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.

Further Reading

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

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