Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Reduced by Connors Investor Services Inc.

Connors Investor Services Inc. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,094 shares of the business services provider’s stock after selling 50 shares during the quarter. Connors Investor Services Inc.’s holdings in Automatic Data Processing were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in Automatic Data Processing by 48.7% in the first quarter. Acadian Asset Management LLC now owns 307,433 shares of the business services provider’s stock valued at $76,757,000 after purchasing an additional 100,739 shares in the last quarter. Rodgers & Associates LTD bought a new stake in shares of Automatic Data Processing during the 1st quarter worth about $200,000. TIAA Trust National Association boosted its stake in shares of Automatic Data Processing by 3.9% during the 1st quarter. TIAA Trust National Association now owns 39,658 shares of the business services provider’s stock worth $9,904,000 after acquiring an additional 1,500 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after acquiring an additional 173,298 shares in the last quarter. Finally, Alera Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 64.5% during the 1st quarter. Alera Investment Advisors LLC now owns 3,599 shares of the business services provider’s stock worth $899,000 after acquiring an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded down $0.43 during trading hours on Friday, hitting $246.97. The stock had a trading volume of 1,424,555 shares, compared to its average volume of 1,656,368. The company has a 50-day moving average of $244.20 and a two-hundred day moving average of $244.56. 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 company has a market cap of $101.08 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

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

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Barclays upped their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. TD Cowen decreased their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Evercore ISI increased their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. decreased their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $255.42.

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.