PAX Financial Group LLC Has $611,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

PAX Financial Group LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.6% in the 1st quarter, Holdings Channel reports. The firm owned 1,999 shares of the business services provider’s stock after selling 398 shares during the period. PAX Financial Group LLC’s holdings in Automatic Data Processing were worth $611,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position 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 buying an additional 129 shares during the period. GAMMA Investing LLC increased its position 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 buying an additional 1,148 shares during the period. Toronto Dominion Bank increased its position 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 buying an additional 21,910 shares during the period. Proficio Capital Partners LLC increased 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 worth $1,090,000 after buying an additional 1,117 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in Automatic Data Processing by 8.9% in the 1st 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.

Analyst Ratings Changes

A number of research firms have recently issued reports on ADP. Stifel Nicolaus boosted their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Morgan Stanley boosted their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Finally, UBS Group lowered their price objective on 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $309.62.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $298.18 on Wednesday. The business’s fifty day moving average price is $312.88 and its two-hundred day moving average price is $304.00. Automatic Data Processing, Inc. has a fifty-two week low of $242.76 and a fifty-two week high of $329.93. The stock has a market capitalization of $121.04 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

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, beating analysts’ consensus estimates 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 firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the business posted $2.88 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS 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.