Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 793,783 shares of the business services provider’s stock after selling 38,823 shares during the period. Clearbridge Investments LLC owned 0.19% of Automatic Data Processing worth $198,239,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its stake in shares of 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 purchasing an additional 99,515 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of 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 purchasing an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $2,924,000. Everence Capital Management Inc. grew its stake in shares of 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 purchasing an additional 3,800 shares during the last quarter. Finally, LVW Advisors LLC grew its stake in shares of 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 purchasing an additional 740 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.1 %

Automatic Data Processing stock traded up $0.36 during trading on Tuesday, hitting $248.35. The company’s stock had a trading volume of 764,018 shares, compared to its average volume of 1,666,700. The stock has a market capitalization of $101.65 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.49 and a beta of 0.78. The stock’s fifty day moving average is $244.26 and its 200 day moving average is $244.76. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year 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.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results 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. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. TD Cowen decreased their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Barclays lifted their price target 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. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. decreased their target price 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. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.