Fulton Bank N.A. lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) 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.
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.
Read Our Latest Report on Automatic Data Processing
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.
See Also
- Five stocks we like better than Automatic Data Processing
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- What Are Bonds? A High-Level Overview
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Super Micro Stock Drops Sharply After Earnings on Margin Concerns
- Top Stocks Investing in 5G Technology
- Lyft’s First-Ever Profit, but the Outlook Is a Speed Bump
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.