Rodgers & Associates LTD Acquires Shares of 801 Automatic Data Processing, Inc. (NASDAQ:ADP)

Rodgers & Associates LTD bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the first quarter, HoldingsChannel.com reports. The fund bought 801 shares of the business services provider’s stock, valued at approximately $200,000.

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

Analyst Upgrades and Downgrades

ADP has been the topic of a number of analyst reports. Barclays upped their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. TD Cowen decreased their target price on 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 cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Evercore ISI raised their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $0.43 during trading hours on Friday, reaching $246.97. The stock had a trading volume of 1,424,555 shares, compared to its average volume of 1,656,368. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The stock has a fifty day moving average of $244.20 and a 200 day moving average of $244.48. 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 stock has a market cap of $101.08 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm earned $2.52 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

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.