Pinkerton Retirement Specialists LLC Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Pinkerton Retirement Specialists LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,477 shares of the business services provider’s stock after selling 61 shares during the period. Automatic Data Processing accounts for about 0.7% of Pinkerton Retirement Specialists LLC’s holdings, making the stock its 27th biggest holding. Pinkerton Retirement Specialists LLC’s holdings in Automatic Data Processing were worth $5,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after buying an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in Automatic Data Processing in the 4th quarter valued at about $957,000. Proficio Capital Partners LLC boosted its position 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 valued at $1,090,000 after buying an additional 1,117 shares during the last quarter. GWN Securities Inc. purchased a new position in Automatic Data Processing in the 4th quarter valued at about $604,000. Finally, Cibc World Markets Corp boosted its position in Automatic Data Processing by 14.0% in the 4th quarter. Cibc World Markets Corp now owns 73,361 shares of the business services provider’s stock valued at $21,475,000 after buying an additional 9,019 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $303.36 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $312.99 and its two-hundred day moving average price is $304.04. Automatic Data Processing, Inc. has a 52-week low of $238.19 and a 52-week high of $329.93. The stock has a market capitalization of $123.14 billion, a P/E ratio of 31.05, a P/E/G ratio of 2.77 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued 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 firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter last year, the company posted $2.88 earnings per share. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday, June 13th. TD Securities upped their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $309.62.

Automatic Data Processing Company 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.