Fulton Bank N.A. Acquires 276 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Fulton Bank N.A. lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,331 shares of the business services provider’s stock after purchasing an additional 276 shares during the period. Fulton Bank N.A.’s holdings in Automatic Data Processing were worth $556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADP. Keener Financial Planning LLC boosted its stake 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 valued at $28,000 after acquiring an additional 76 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at approximately $36,000. Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at approximately $39,000. Finally, Evolution Advisers Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $41,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Up 0.4 %

NASDAQ:ADP traded up $0.92 on Wednesday, reaching $260.39. 869,244 shares of the stock traded hands, compared to its average volume of 1,686,243. The company has a market capitalization of $106.58 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.72 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $269.49. The company’s fifty day simple moving average is $245.62 and its 200 day simple moving average is $246.22.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. Equities analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADP shares. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Barclays increased their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $262.18.

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.