Cadence Bank Has $1.33 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cadence Bank cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,331 shares of the business services provider’s stock after selling 61 shares during the period. Cadence Bank’s holdings in Automatic Data Processing were worth $1,331,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ADP. Vanguard Group Inc. grew its stake in Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares in the last quarter. Wellington Management Group LLP increased its holdings in Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after buying an additional 249,566 shares during the last quarter. Capital Research Global Investors raised its position in Automatic Data Processing by 22.5% during the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after acquiring an additional 649,791 shares in the last quarter. Nordea Investment Management AB lifted its stake in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after acquiring an additional 589,831 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Automatic Data Processing by 16.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,124,476 shares of the business services provider’s stock valued at $530,567,000 after acquiring an additional 307,156 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP traded up $3.09 during midday trading on Friday, hitting $252.67. The company’s stock had a trading volume of 1,449,549 shares, compared to its average volume of 1,664,555. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The stock has a market capitalization of $103.42 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company’s fifty day simple moving average is $244.26 and its two-hundred day simple moving average is $244.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.52 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADP has been the subject of a number of recent analyst reports. Barclays raised their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. TD Cowen cut their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing 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.