Sage Mountain Advisors LLC Raises Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sage Mountain Advisors LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.2% in the first quarter, HoldingsChannel reports. The firm owned 1,942 shares of the business services provider’s stock after purchasing an additional 484 shares during the period. Sage Mountain Advisors LLC’s holdings in Automatic Data Processing were worth $593,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. von Borstel & Associates Inc. bought a new position in Automatic Data Processing during the 1st quarter worth approximately $30,000. Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC lifted its holdings in Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares during the last quarter. Abound Wealth Management lifted its holdings in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after buying an additional 43 shares during the last quarter. Finally, Banque de Luxembourg S.A. bought a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.7%

ADP opened at $298.18 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $242.76 and a 12 month high of $329.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $121.04 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.78 and a beta of 0.76. The stock’s 50 day moving average price is $312.88 and its 200 day moving average price is $304.00.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating 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 firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period last year, the firm earned $2.88 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADP shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group cut their price target on 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 raised their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $309.62.

Automatic Data Processing 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.