EP Wealth Advisors LLC Acquires 925 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

EP Wealth Advisors LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,457 shares of the business services provider’s stock after purchasing an additional 925 shares during the quarter. EP Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $3,860,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its holdings in Automatic Data Processing by 14.2% during the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after purchasing an additional 99,515 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at $2,924,000. Everence Capital Management Inc. increased its stake in shares of Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares in the last quarter. Finally, LVW Advisors LLC increased its stake in shares of Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 740 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADP shares. TD Cowen lowered 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 note on Thursday, May 2nd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lowered 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 note on Thursday, May 2nd. Finally, Barclays lifted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $3.09 during midday trading on Friday, reaching $252.67. The company had a trading volume of 1,317,798 shares, compared to its average volume of 1,664,244. The company’s 50 day moving average price is $244.26 and its 200 day moving average price is $244.81. 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 stock has a market cap of $103.42 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.49 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84.

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 for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.52 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

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.