FourThought Financial Partners LLC Has $1.54 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

FourThought Financial Partners LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,042 shares of the business services provider’s stock after selling 98 shares during the period. FourThought Financial Partners LLC’s holdings in Automatic Data Processing were worth $1,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. von Borstel & Associates Inc. bought a new position in Automatic Data Processing during the first quarter worth about $30,000. Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Abound Wealth Management lifted its holdings in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares in the last quarter. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing during the fourth quarter worth about $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.8%

NASDAQ ADP opened at $308.63 on Friday. The business has a fifty day moving average price of $311.78 and a two-hundred day moving average price of $304.60. 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, Inc. has a fifty-two week low of $249.49 and a fifty-two week high of $329.93. The stock has a market capitalization of $125.28 billion, a PE ratio of 31.59, a PEG ratio of 2.80 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADP has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Mizuho boosted 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. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. TD Securities boosted 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.