Captrust Financial Advisors Has $19.82 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Captrust Financial Advisors trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,372 shares of the business services provider’s stock after selling 13,804 shares during the period. Captrust Financial Advisors’ holdings in Automatic Data Processing were worth $19,822,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TD Asset Management Inc increased its stake in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the last quarter. SG Americas Securities LLC increased its stake in Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at $2,924,000. Everence Capital Management Inc. increased its stake in Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after buying an additional 3,800 shares during the last quarter. Finally, LVW Advisors LLC increased its stake in Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after buying an additional 740 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $257.74 on Wednesday. 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 capitalization of $105.49 billion, a P/E ratio of 28.77, a P/E/G ratio of 2.67 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $258.75. The firm has a 50-day moving average price of $244.45 and a two-hundred day moving average price of $245.35.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion during 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 business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.52 EPS. Analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays lifted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. TD Cowen decreased their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. reduced 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 report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $253.50.

Automatic Data Processing 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.