CreativeOne Wealth LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

CreativeOne Wealth LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,340 shares of the business services provider’s stock after purchasing an additional 141 shares during the quarter. CreativeOne Wealth LLC’s holdings in Automatic Data Processing were worth $1,334,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Keener Financial Planning LLC lifted its holdings 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 period. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter worth $33,000. Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $39,000. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $41,000. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on ADP shares. Barclays raised their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. TD Cowen lowered their price objective on shares of 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 downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Two investment 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded up $2.70 during midday trading on Friday, hitting $252.28. The company’s stock had a trading volume of 585,156 shares, compared to its average volume of 1,658,630. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average price is $244.26 and its 200-day moving average price is $244.81. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The company has a market capitalization of $103.26 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business posted $2.52 EPS. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

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.