Fidelity D & D Bancorp Inc. Decreases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fidelity D & D Bancorp Inc. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,689 shares of the business services provider’s stock after selling 59 shares during the period. Fidelity D & D Bancorp Inc.’s holdings in Automatic Data Processing were worth $1,127,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in Automatic Data Processing by 29.6% in the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock worth $173,000 after purchasing an additional 129 shares during the period. GAMMA Investing LLC increased its stake in Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock worth $2,901,000 after purchasing an additional 1,148 shares during the period. Toronto Dominion Bank increased its stake in Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after purchasing an additional 21,910 shares during the period. Proficio Capital Partners LLC increased its stake in Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 1,117 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock valued at $76,638,000 after buying an additional 20,467 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $302.65 on Friday. The stock has a market cap of $122.85 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.80 and a beta of 0.76. The business’s fifty day moving average is $313.00 and its 200 day moving average is $303.89. Automatic Data Processing, Inc. has a twelve month low of $235.99 and a twelve month high of $329.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADP. TD Securities boosted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Royal Bank Of Canada reissued 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. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a research note on Thursday. Finally, UBS Group reduced their target price on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $309.62.

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.