McClarren Financial Advisors Inc. Buys New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

McClarren Financial Advisors Inc. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the first quarter, HoldingsChannel reports. The fund bought 448 shares of the business services provider’s stock, valued at approximately $136,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Automatic Data Processing in the 4th quarter valued at about $957,000. FMR LLC grew its position in Automatic Data Processing by 0.6% in the 4th quarter. FMR LLC now owns 1,268,211 shares of the business services provider’s stock valued at $371,243,000 after acquiring an additional 7,082 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Automatic Data Processing in the 4th quarter valued at about $710,000. Finally, Certior Financial Group LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $384,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADP shares. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. UBS Group dropped their target price 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. Stifel Nicolaus boosted their target price on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Mizuho boosted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $314.33.

Automatic Data Processing Stock Up 0.6%

Shares of NASDAQ:ADP opened at $302.26 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 52-week low of $256.47 and a 52-week high of $329.93. The stock’s fifty day simple moving average is $309.91 and its 200-day simple moving average is $305.37. The company has a market capitalization of $122.69 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.76 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share 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.