Personal CFO Solutions LLC Has $528,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Personal CFO Solutions LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,728 shares of the business services provider’s stock after purchasing an additional 78 shares during the period. Personal CFO Solutions LLC’s holdings in Automatic Data Processing were worth $528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. von Borstel & Associates Inc. bought a new position in Automatic Data Processing in the 1st quarter worth $30,000. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% in 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 during the period. Cyrus J. Lawrence LLC raised its holdings in Automatic Data Processing by 121.8% in 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 during the period. Abound Wealth Management raised its holdings in Automatic Data Processing by 58.1% in 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 during the period. Finally, Banque de Luxembourg S.A. bought a new position in Automatic Data Processing in the 4th quarter worth $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In related news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction that occurred 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 transaction, the vice president directly owned 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Securities lifted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. UBS Group dropped 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 report on Friday, June 13th. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. Mizuho boosted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $307.08.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $306.90 on Wednesday. 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 stock has a market capitalization of $124.58 billion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The firm’s 50-day moving average price is $312.72 and its two-hundred day moving average price is $303.73.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the business earned $2.88 earnings per share. Automatic Data Processing’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

About Automatic Data Processing

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.