Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,660 shares of the business services provider’s stock after selling 266 shares during the period. Linscomb Wealth Inc.’s holdings in Automatic Data Processing were worth $1,164,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Keener Financial Planning LLC raised its position in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at about $33,000. Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $39,000. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Finally, Bfsg LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded up $3.09 during trading hours on Friday, reaching $252.67. 1,449,554 shares of the stock were exchanged, compared to its average volume of 1,451,799. The firm has a 50 day simple moving average of $244.27 and a 200-day simple moving average of $244.99. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The stock has a market capitalization of $103.42 billion, a P/E ratio of 28.20, a P/E/G ratio of 2.52 and a beta of 0.78. 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 (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 analysts’ expectations of $5.22 billion. During the same quarter last year, the company posted $2.52 earnings per share. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research analyst reports. TD Cowen decreased their target price 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. Barclays raised their target price on shares of 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 report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $255.00.

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.