Bokf Na Has $6.41 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bokf Na cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,135 shares of the business services provider’s stock after selling 3,952 shares during the quarter. Bokf Na’s holdings in Automatic Data Processing were worth $6,411,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Heritage Investment Group Inc. boosted its position in Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after buying an additional 41 shares during the period. Bedel Financial Consulting Inc. raised its holdings in Automatic Data Processing by 0.8% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after purchasing an additional 42 shares in the last quarter. Argus Investors Counsel Inc. raised its holdings in Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after purchasing an additional 43 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in Automatic Data Processing by 0.8% in the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after purchasing an additional 43 shares in the last quarter. Finally, Patron Partners LLC raised its holdings in Automatic Data Processing by 1.6% in the 1st quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after purchasing an additional 44 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $3.09 on Friday, hitting $252.67. 1,449,554 shares of the company traded hands, compared to its average volume of 1,451,799. The stock has a market capitalization of $103.42 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78. 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, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The business has a 50-day simple moving average of $244.27 and a 200 day simple moving average of $244.99.

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 for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $2.52 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts expect that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on ADP shares. JPMorgan Chase & Co. decreased their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. TD Cowen decreased 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 report on Thursday, May 2nd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $253.50.

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.