Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.9% in the 1st quarter, Holdings Channel reports. The fund owned 14,523 shares of the business services provider’s stock after acquiring an additional 2,408 shares during the period. AE Wealth Management LLC’s holdings in Automatic Data Processing were worth $4,437,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Sentinus LLC grew its stake in Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC grew its stake in Automatic Data Processing by 2.4% in the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider’s stock worth $478,000 after purchasing an additional 37 shares in the last quarter. Main Street Group LTD grew its stake in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Finally, Howard Financial Services LTD. grew its stake in Automatic Data Processing by 2.2% in the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider’s stock worth $530,000 after purchasing an additional 38 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADP. Morgan Stanley raised their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $309.62.

Automatic Data Processing Stock Performance

ADP opened at $308.63 on Friday. The business’s 50 day moving average is $311.78 and its 200-day moving average is $304.60. The stock has a market cap of $125.28 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.80 and a beta of 0.76. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a twelve month low of $249.49 and a twelve month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS 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 analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the company earned $2.88 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

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.