National Bank of Canada FI Sells 399,074 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

National Bank of Canada FI decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 62.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 239,413 shares of the business services provider’s stock after selling 399,074 shares during the quarter. National Bank of Canada FI’s holdings in Automatic Data Processing were worth $59,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Keener Financial Planning LLC increased its stake in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $39,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $41,000. Bfsg LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $42,000. Finally, Vestor Capital LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $44,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

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

Automatic Data Processing Price Performance

Shares of ADP stock traded down $1.25 during trading hours on Wednesday, reaching $247.10. The company’s stock had a trading volume of 1,853,182 shares, compared to its average volume of 1,667,496. The firm’s 50 day simple moving average is $244.27 and its 200-day simple moving average is $244.77. The company has a market capitalization of $101.14 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 2.50 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. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the business posted $2.52 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.16 earnings per share 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.