GLOBALT Investments LLC GA Trims Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

GLOBALT Investments LLC GA decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,084 shares of the business services provider’s stock after selling 35 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Automatic Data Processing were worth $7,969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. von Borstel & Associates Inc. purchased a new position in Automatic Data Processing during the 1st quarter valued at approximately $30,000. Main Street Group LTD grew 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 valued at $33,000 after buying an additional 38 shares in the last quarter. Abound Wealth Management grew 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 valued at $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. purchased a new position in Automatic Data Processing during the 4th quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Automatic Data Processing during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.8%

Shares of ADP stock opened at $308.63 on Friday. Automatic Data Processing, Inc. has a 1-year low of $249.49 and a 1-year high of $329.93. The stock’s fifty day moving average price is $311.78 and its 200 day moving average price is $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. The company has a market cap of $125.28 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.80 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced 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 for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the business earned $2.88 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADP has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. UBS Group lowered their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. Finally, Stifel Nicolaus raised 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.