OneAscent Wealth Management LLC Sells 217 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

OneAscent Wealth Management LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,444 shares of the business services provider’s stock after selling 217 shares during the period. OneAscent Wealth Management LLC’s holdings in Automatic Data Processing were worth $441,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADP. Golden State Wealth Management LLC boosted its position in shares of Automatic Data Processing by 29.6% during the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 129 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 1,148 shares in the last quarter. Toronto Dominion Bank boosted its holdings in 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 acquiring an additional 21,910 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 purchasing an additional 20,467 shares in the last quarter. Finally, Napatree Capital LLC increased its position in Automatic Data Processing by 2.7% during the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock valued at $936,000 after acquiring an additional 84 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group lowered their price target on 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. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Stifel Nicolaus increased their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. Finally, Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $309.62.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $301.68 on Monday. The company’s fifty day simple moving average is $312.56 and its 200-day simple moving average is $304.28. 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 has a market cap of $122.46 billion, a PE ratio of 30.88, a P/E/G ratio of 2.76 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $245.79 and a 12 month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly 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. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.88 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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.