Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Lifted by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,445 shares of the business services provider’s stock after buying an additional 576 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Automatic Data Processing were worth $1,859,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. TD Asset Management Inc lifted its position in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares during the last quarter. SG Americas Securities LLC lifted its position in 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 purchasing an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC bought a new stake in Automatic Data Processing in the 1st quarter valued at about $2,924,000. Everence Capital Management Inc. lifted its position in 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 purchasing an additional 3,800 shares during the last quarter. Finally, LVW Advisors LLC lifted its position in 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 purchasing an additional 740 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADP shares. TD Cowen cut their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Barclays boosted their price target 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. Finally, JPMorgan Chase & Co. dropped 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $253.50.

Automatic Data Processing Price Performance

Shares of ADP traded up $2.54 during mid-day trading on Monday, hitting $255.21. The company’s stock had a trading volume of 1,644,448 shares, compared to its average volume of 1,665,021. The firm has a 50-day moving average price of $244.27 and a 200 day moving average price of $245.05. The stock has a market capitalization of $104.45 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 2.64 and a beta of 0.78. 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, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping 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 net margin of 19.56% and a return on equity of 93.09%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.52 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

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.