Automatic Data Processing, Inc. (NASDAQ:ADP) Position Boosted by Verus Capital Partners LLC

Verus Capital Partners LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,172 shares of the business services provider’s stock after buying an additional 78 shares during the period. Verus Capital Partners LLC’s holdings in Automatic Data Processing were worth $293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Raleigh Capital Management Inc. increased its holdings in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 89 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Automatic Data Processing by 17.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,332 shares of the business services provider’s stock worth $543,000 after purchasing an additional 345 shares during the period. Exchange Traded Concepts LLC increased its stake in Automatic Data Processing by 8.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,313 shares of the business services provider’s stock valued at $772,000 after purchasing an additional 252 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of Automatic Data Processing by 3.8% during the fourth quarter. Capital Investment Advisors LLC now owns 8,245 shares of the business services provider’s stock worth $1,921,000 after purchasing an additional 302 shares during the period. Finally, Diversified Trust Co lifted its holdings in Automatic Data Processing by 2.2% in the fourth quarter. Diversified Trust Co now owns 8,435 shares of the business services provider’s stock worth $1,965,000 after acquiring an additional 179 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADP shares. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. TD Cowen lowered their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Barclays upped their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Trading Up 0.8 %

Shares of ADP stock traded up $1.86 during trading hours on Tuesday, reaching $244.50. 308,917 shares of the stock traded hands, compared to its average volume of 1,671,571. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $100.07 billion, a PE ratio of 27.08, a PEG ratio of 2.40 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The business has a fifty day moving average price of $244.01 and a 200 day moving average price of $244.16.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.52 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current 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.