Atomi Financial Group Inc. Purchases 265 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Atomi Financial Group Inc. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,826 shares of the business services provider’s stock after buying an additional 265 shares during the quarter. Atomi Financial Group Inc.’s holdings in Automatic Data Processing were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its holdings in Automatic Data Processing by 8.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,313 shares of the business services provider’s stock worth $772,000 after purchasing an additional 252 shares during the period. Diversified Trust Co increased its position in shares of Automatic Data Processing by 2.2% during 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 in the last quarter. Central Bank & Trust Co. increased its position in shares of Automatic Data Processing by 234.7% during the fourth quarter. Central Bank & Trust Co. now owns 3,106 shares of the business services provider’s stock worth $724,000 after acquiring an additional 2,178 shares in the last quarter. Wedmont Private Capital increased its position in shares of Automatic Data Processing by 13.9% during the fourth quarter. Wedmont Private Capital now owns 3,290 shares of the business services provider’s stock worth $779,000 after acquiring an additional 401 shares in the last quarter. Finally, Farmers Trust Co. grew its position in Automatic Data Processing by 3.8% in the fourth quarter. Farmers Trust Co. now owns 1,935 shares of the business services provider’s stock valued at $451,000 after purchasing an additional 71 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP traded up $4.07 during trading on Monday, hitting $242.09. 598,525 shares of the company traded hands, compared to its average volume of 1,676,743. The firm has a market cap of $99.09 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. 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 stock’s fifty day moving average is $244.02 and its 200 day moving average is $244.09.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADP shares. JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Barclays lifted their price objective 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. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, TD Cowen reduced 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 report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $255.42.

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.