NorthRock Partners LLC Purchases 234 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

NorthRock Partners LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,644 shares of the business services provider’s stock after purchasing an additional 234 shares during the quarter. NorthRock Partners LLC’s holdings in Automatic Data Processing were worth $410,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ADP. Choate Investment Advisors raised its position in shares of Automatic Data Processing by 3.6% in the 1st quarter. Choate Investment Advisors now owns 38,321 shares of the business services provider’s stock valued at $9,570,000 after purchasing an additional 1,342 shares during the last quarter. Fiduciary Family Office LLC grew its stake in shares of Automatic Data Processing by 18.3% during the 1st quarter. Fiduciary Family Office LLC now owns 3,250 shares of the business services provider’s stock worth $812,000 after purchasing an additional 503 shares during the period. Nixon Peabody Trust Co. grew its stake in shares of Automatic Data Processing by 7.9% during the 1st quarter. Nixon Peabody Trust Co. now owns 7,480 shares of the business services provider’s stock worth $1,868,000 after purchasing an additional 550 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Automatic Data Processing by 7.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 27,069 shares of the business services provider’s stock worth $6,760,000 after purchasing an additional 1,944 shares during the period. Finally, Atomi Financial Group Inc. grew its stake in Automatic Data Processing by 17.0% in the 1st quarter. Atomi Financial Group Inc. now owns 1,826 shares of the business services provider’s stock valued at $456,000 after acquiring an additional 265 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $4.62 on Monday, reaching $242.64. The stock had a trading volume of 1,268,269 shares, compared to its average volume of 1,680,364. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day moving average price is $244.01 and its 200 day moving average price is $244.16. The stock has a market cap of $99.31 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the business earned $2.52 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. 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 report on Thursday, May 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 report on Thursday, May 2nd. Finally, Barclays lifted their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.42.

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.