Sheaff Brock Investment Advisors LLC Has $1.06 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,232 shares of the business services provider’s stock after selling 602 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Automatic Data Processing were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in Automatic Data Processing in the fourth quarter valued at about $308,321,000. International Assets Investment Management LLC boosted its stake in shares of Automatic Data Processing by 22,539.4% during the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after acquiring an additional 930,199 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Automatic Data Processing by 22.5% during the 4th 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 boosted its stake in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after acquiring an additional 589,831 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock worth $9,224,713,000 after acquiring an additional 412,434 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $3.09 during trading hours on Friday, hitting $252.67. The stock had a trading volume of 1,449,549 shares, compared to its average volume of 1,664,555. The company has a 50-day moving average of $244.26 and a two-hundred day moving average of $244.81. 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 company has a market cap of $103.42 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, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results 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. 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 analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the firm posted $2.52 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ADP shares. JPMorgan Chase & Co. decreased their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Barclays increased 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. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, 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 note 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.