Marshall Financial Group LLC Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Marshall Financial Group LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,308 shares of the business services provider’s stock after selling 276 shares during the quarter. Marshall Financial Group LLC’s holdings in Automatic Data Processing were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADP. Alps Advisors Inc. boosted its holdings in Automatic Data Processing by 99.4% in the third quarter. Alps Advisors Inc. now owns 21,574 shares of the business services provider’s stock worth $5,190,000 after acquiring an additional 10,755 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of Automatic Data Processing by 5.7% during the third quarter. Royal London Asset Management Ltd. now owns 181,901 shares of the business services provider’s stock worth $43,768,000 after purchasing an additional 9,831 shares during the period. Baker Avenue Asset Management LP lifted its holdings in shares of Automatic Data Processing by 50.2% during the third quarter. Baker Avenue Asset Management LP now owns 12,610 shares of the business services provider’s stock worth $3,034,000 after purchasing an additional 4,217 shares during the period. Crestwood Advisors Group LLC lifted its holdings in shares of Automatic Data Processing by 121.2% during the third quarter. Crestwood Advisors Group LLC now owns 2,853 shares of the business services provider’s stock worth $686,000 after purchasing an additional 1,563 shares during the period. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Automatic Data Processing by 64.1% during the third quarter. iA Global Asset Management Inc. now owns 55,442 shares of the business services provider’s stock worth $13,338,000 after purchasing an additional 21,658 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.1 %

Automatic Data Processing stock opened at $236.91 on Friday. The stock has a market capitalization of $96.96 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The business has a 50 day simple moving average of $244.99 and a 200-day simple moving average of $243.78. 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 issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the business earned $2.52 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays lifted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Mizuho boosted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. 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 report on Thursday, May 2nd. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, TD Cowen decreased their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $255.42.

About Automatic Data Processing

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.