Sequoia Financial Advisors LLC Has $1.93 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sequoia Financial Advisors LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 46.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,716 shares of the business services provider’s stock after selling 6,675 shares during the period. Sequoia Financial Advisors LLC’s holdings in Automatic Data Processing were worth $1,927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Heritage Investment Group Inc. lifted its position in Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after acquiring an additional 41 shares during the period. Bedel Financial Consulting Inc. lifted its position in Automatic Data Processing by 0.8% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock valued at $1,224,000 after acquiring an additional 42 shares during the period. Argus Investors Counsel Inc. lifted its position in Automatic Data Processing by 0.5% during 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 acquiring an additional 43 shares during the period. Prestige Wealth Management Group LLC raised its holdings in Automatic Data Processing by 0.8% in the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after buying an additional 43 shares during the last quarter. Finally, Morningstar Investment Management LLC raised its holdings in 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 worth $634,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ADP shares. Barclays lifted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Evercore ISI lifted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $255.42.

Read Our Latest Analysis on Automatic Data Processing

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $235.56 on Friday. The firm has a 50 day moving average of $244.84 and a 200 day moving average of $243.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $96.41 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.38 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.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion during 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%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.52 earnings per share. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share 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.

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

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