Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Burney Co.

Burney Co. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,765 shares of the business services provider’s stock after selling 481 shares during the period. Burney Co.’s holdings in Automatic Data Processing were worth $2,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADP. Keener Financial Planning LLC raised its stake 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 buying an additional 76 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the first quarter worth about $33,000. Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $39,000. Evolution Advisers Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $41,000. Finally, Bfsg LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded up $2.22 during mid-day trading on Friday, reaching $263.52. The stock had a trading volume of 2,310,606 shares, compared to its average volume of 1,644,141. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $107.86 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $269.49. The business has a 50 day simple moving average of $245.11 and a 200 day simple moving average of $245.77.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. On average, analysts expect that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Jefferies Financial Group raised their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $259.64.

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.