AIA Group Ltd Trims Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

AIA Group Ltd decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,971 shares of the business services provider’s stock after selling 321 shares during the quarter. Automatic Data Processing comprises approximately 1.2% of AIA Group Ltd’s portfolio, making the stock its 19th biggest position. AIA Group Ltd’s holdings in Automatic Data Processing were worth $35,955,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its stake in shares of Automatic Data Processing by 49.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 24,009 shares of the business services provider’s stock worth $5,996,000 after acquiring an additional 7,921 shares during the last quarter. Empirical Finance LLC boosted its stake in Automatic Data Processing by 3.4% in the 1st quarter. Empirical Finance LLC now owns 15,089 shares of the business services provider’s stock worth $3,768,000 after purchasing an additional 501 shares in the last quarter. Gallacher Capital Management LLC grew its position in Automatic Data Processing by 6.0% during the 1st quarter. Gallacher Capital Management LLC now owns 1,296 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 73 shares during the last quarter. Advisory Services Network LLC grew its position in Automatic Data Processing by 10.8% during the 1st quarter. Advisory Services Network LLC now owns 16,991 shares of the business services provider’s stock valued at $4,243,000 after purchasing an additional 1,654 shares during the last quarter. Finally, Manchester Capital Management LLC increased its stake in Automatic Data Processing by 62.7% during the 1st quarter. Manchester Capital Management LLC now owns 3,930 shares of the business services provider’s stock valued at $981,000 after purchasing an additional 1,515 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI lifted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. TD Cowen dropped their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded up $2.39 during mid-day trading on Friday, reaching $238.02. 1,312,684 shares of the company’s stock traded hands, compared to its average volume of 1,684,850. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average of $244.02 and a two-hundred day moving average of $243.92. The company has a market cap of $97.42 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.36 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating 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 company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.52 EPS. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current 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.