SeaCrest Wealth Management LLC Has $585,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

SeaCrest Wealth Management LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,344 shares of the business services provider’s stock after selling 396 shares during the period. SeaCrest Wealth Management LLC’s holdings in Automatic Data Processing were worth $585,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Heritage Investment Group Inc. grew its position in shares of 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 worth $513,000 after buying an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. grew its holdings in 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 valued at $1,224,000 after purchasing an additional 42 shares during the period. Argus Investors Counsel Inc. grew its holdings in 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 valued at $2,065,000 after purchasing an additional 43 shares during the period. Morningstar Investment Management LLC boosted its stake in shares of Automatic Data Processing by 1.7% in the fourth quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock worth $634,000 after acquiring an additional 46 shares during the last quarter. Finally, Simon Quick Advisors LLC boosted its stake in shares of Automatic Data Processing by 1.0% in the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after acquiring an additional 47 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $236.63 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The stock has a market cap of $96.85 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.62 and a beta of 0.78. The stock’s 50 day moving average price is $245.58 and its 200 day moving average price is $243.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.52 earnings per share. Equities 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 recently issued reports on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays raised their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. TD Cowen reduced their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI increased their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price target on 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. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $255.42.

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.