Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Cable Hill Partners LLC

Cable Hill Partners LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,454 shares of the business services provider’s stock after acquiring an additional 256 shares during the quarter. Cable Hill Partners LLC’s holdings in Automatic Data Processing were worth $437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in shares of Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock worth $173,000 after buying an additional 129 shares during the period. GAMMA Investing LLC boosted its position in shares of Automatic Data Processing by 13.8% in the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock worth $2,901,000 after buying an additional 1,148 shares during the period. Toronto Dominion Bank boosted its position in shares of Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after buying an additional 21,910 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Automatic Data Processing by 42.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after buying an additional 1,117 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Automatic Data Processing by 8.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after buying an additional 20,467 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 1.7%

Shares of Automatic Data Processing stock opened at $298.18 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 business’s 50 day simple moving average is $312.88 and its 200-day simple moving average is $304.00. The stock has a market capitalization of $121.04 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.78 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $242.76 and a twelve month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 EPS. Equities research 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 research analysts recently commented on ADP shares. Mizuho increased their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price target for the company in a report on Thursday, July 10th. Finally, TD Securities increased their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.