Price T Rowe Associates Inc. MD Sells 59,577 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Price T Rowe Associates Inc. MD lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,271,027 shares of the business services provider’s stock after selling 59,577 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.31% of Automatic Data Processing worth $317,428,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ADP. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $62,000. Woodmont Investment Counsel LLC grew its position in Automatic Data Processing by 5.2% in the fourth quarter. Woodmont Investment Counsel LLC now owns 4,440 shares of the business services provider’s stock valued at $1,034,000 after purchasing an additional 219 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Automatic Data Processing by 1.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 30,387 shares of the business services provider’s stock valued at $7,079,000 after purchasing an additional 291 shares in the last quarter. PFG Advisors grew its position in Automatic Data Processing by 517.7% in the fourth quarter. PFG Advisors now owns 7,449 shares of the business services provider’s stock valued at $1,735,000 after purchasing an additional 6,243 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd grew its position in Automatic Data Processing by 8.9% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 3,992 shares of the business services provider’s stock valued at $930,000 after purchasing an additional 327 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded up $3.09 during mid-day trading on Friday, reaching $252.67. 1,449,554 shares of the company’s stock were exchanged, compared to its average volume of 1,451,799. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The firm has a market capitalization of $103.42 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78. The business’s fifty day simple moving average is $244.27 and its two-hundred day simple moving average is $244.99. 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 released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm earned $2.52 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on ADP shares. Barclays raised their target price on shares of 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. cut 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 note on Thursday, May 2nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, TD Cowen cut their price target 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. Two investment 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $253.50.

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.