Automatic Data Processing (NASDAQ:ADP) Stock Position Raised by Clarius Group LLC

Clarius Group LLC lifted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,997 shares of the business services provider’s stock after acquiring an additional 151 shares during the quarter. Clarius Group LLC’s holdings in Automatic Data Processing were worth $446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Quarterback LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $5,301,510,000. Morgan Stanley boosted its position in shares of Automatic Data Processing by 6.5% in the first quarter. Morgan Stanley now owns 11,440,067 shares of the business services provider’s stock worth $1,563,628,000 after buying an additional 702,522 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Automatic Data Processing by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 9,956,038 shares of the business services provider’s stock worth $1,360,790,000 after buying an additional 27,655 shares during the period. Alliancebernstein L.P. boosted its position in shares of Automatic Data Processing by 26.8% in the first quarter. Alliancebernstein L.P. now owns 9,561,003 shares of the business services provider’s stock worth $1,306,798,000 after buying an additional 2,021,774 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Automatic Data Processing by 0.4% in the first quarter. Geode Capital Management LLC now owns 7,571,328 shares of the business services provider’s stock worth $1,033,491,000 after buying an additional 29,608 shares during the period. 79.80% of the stock is owned by institutional investors and hedge funds.

Shares of Automatic Data Processing stock opened at $148.10 on Thursday. The company’s 50 day moving average price is $147.27 and its two-hundred day moving average price is $153.65. The firm has a market capitalization of $63.18 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.15 and a beta of 0.82. Automatic Data Processing has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.92. Automatic Data Processing had a net margin of 17.20% and a return on equity of 47.51%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the firm earned $1.77 earnings per share. Automatic Data Processing’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts expect that Automatic Data Processing will post 5.75 earnings per share for the current year.

Several brokerages have recently commented on ADP. JPMorgan Chase & Co. decreased their target price on Automatic Data Processing from $189.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, May 15th. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. UBS Group raised Automatic Data Processing from a “sell” rating to a “neutral” rating in a report on Wednesday, April 1st. Finally, Cfra dropped their target price on shares of Automatic Data Processing from $176.00 to $161.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $165.54.

In related news, VP Brian L. Michaud sold 250 shares of Automatic Data Processing stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $140.23, for a total value of $35,057.50. Following the sale, the vice president now directly owns 5,412 shares in the company, valued at $758,924.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is owned by insiders.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

See Also: Retained Earnings

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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