Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Waverly Advisors LLC

Waverly Advisors LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,288 shares of the business services provider’s stock after purchasing an additional 844 shares during the period. Waverly Advisors LLC’s holdings in Automatic Data Processing were worth $1,321,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Silvercrest Asset Management Group LLC lifted its stake in shares of Automatic Data Processing by 8.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 40,303 shares of the business services provider’s stock worth $10,065,000 after acquiring an additional 2,989 shares in the last quarter. Ascent Group LLC lifted its position in shares of Automatic Data Processing by 74.5% in the 1st quarter. Ascent Group LLC now owns 13,358 shares of the business services provider’s stock worth $3,336,000 after buying an additional 5,701 shares during the last quarter. Mount Yale Investment Advisors LLC raised its stake in Automatic Data Processing by 8.4% during the first quarter. Mount Yale Investment Advisors LLC now owns 7,445 shares of the business services provider’s stock worth $1,859,000 after acquiring an additional 576 shares during the period. Lazard Asset Management LLC lifted its holdings in Automatic Data Processing by 13.6% in the first quarter. Lazard Asset Management LLC now owns 80,755 shares of the business services provider’s stock worth $20,167,000 after acquiring an additional 9,653 shares during the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its holdings in shares of Automatic Data Processing by 1.1% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,762,624 shares of the business services provider’s stock worth $440,198,000 after purchasing an additional 18,955 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $264.00 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $108.05 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. The company has a 50 day simple moving average of $244.45 and a 200-day simple moving average of $245.35. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $264.00.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays upped their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. TD Cowen cut their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $253.50.

Automatic Data Processing Company 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.