Mount Yale Investment Advisors LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mount Yale Investment Advisors LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,445 shares of the business services provider’s stock after acquiring an additional 576 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Automatic Data Processing were worth $1,859,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Heritage Investment Group Inc. grew its stake in shares of Automatic Data Processing by 1.9% in the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after acquiring an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of Automatic Data Processing by 0.8% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after acquiring an additional 42 shares in the last quarter. Argus Investors Counsel Inc. grew its stake in shares of Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after acquiring an additional 43 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Automatic Data Processing by 0.8% in the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after acquiring an additional 43 shares in the last quarter. Finally, Patron Partners LLC grew its stake in shares of Automatic Data Processing by 1.6% in the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after acquiring an additional 44 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $2.54 on Monday, reaching $255.21. 1,644,448 shares of the stock were exchanged, compared to its average volume of 1,665,021. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average price of $244.27 and a two-hundred day moving average price of $245.05. The firm has a market capitalization of $104.45 billion, a PE ratio of 28.20, a PEG ratio of 2.64 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 (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 in the previous year, the business posted $2.52 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADP shares. Barclays lifted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 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 research report on Thursday, May 2nd. Finally, 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 research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.