Brown Advisory Inc. Sells 725 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Brown Advisory Inc. trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the first quarter, Holdings Channel reports. The institutional investor owned 247,336 shares of the business services provider’s stock after selling 725 shares during the quarter. Brown Advisory Inc.’s holdings in Automatic Data Processing were worth $75,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its position in Automatic Data Processing by 51.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,049 shares of the business services provider’s stock worth $3,083,000 after acquiring an additional 3,418 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Automatic Data Processing by 2.8% in the first quarter. Crossmark Global Holdings Inc. now owns 78,352 shares of the business services provider’s stock worth $23,939,000 after buying an additional 2,146 shares in the last quarter. Fullcircle Wealth LLC grew its holdings in Automatic Data Processing by 22.4% in the first quarter. Fullcircle Wealth LLC now owns 862 shares of the business services provider’s stock worth $253,000 after purchasing an additional 158 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in Automatic Data Processing by 17.4% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 6,379 shares of the business services provider’s stock worth $1,949,000 after purchasing an additional 944 shares during the period. Finally, Pacific Point Advisors LLC grew its holdings in shares of Automatic Data Processing by 9.1% during the first quarter. Pacific Point Advisors LLC now owns 4,829 shares of the business services provider’s stock valued at $1,475,000 after buying an additional 404 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Tuesday, June 17th. UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. Stifel Nicolaus upped their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Mizuho lifted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $307.08.

Automatic Data Processing Stock Down 0.5%

NASDAQ:ADP opened at $306.90 on Wednesday. The company has a market cap of $124.58 billion, a PE ratio of 31.41, a P/E/G ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 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’s 50 day moving average is $312.72 and its two-hundred day moving average is $303.73.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 EPS. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president directly owned 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by company insiders.

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.