Everett Harris & Co. CA Sells 2,365 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Everett Harris & Co. CA lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,710 shares of the business services provider’s stock after selling 2,365 shares during the quarter. Everett Harris & Co. CA’s holdings in Automatic Data Processing were worth $1,925,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $308,321,000. International Assets Investment Management LLC increased its position in shares of Automatic Data Processing by 22,539.4% during the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after buying an additional 930,199 shares during the period. Capital Research Global Investors raised its stake in Automatic Data Processing by 22.5% during the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after buying an additional 649,791 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Automatic Data Processing by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock valued at $9,224,713,000 after buying an additional 412,434 shares during the period. Finally, Comerica Bank bought a new stake in Automatic Data Processing during the third quarter valued at $74,595,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

NASDAQ ADP traded up $0.28 during trading on Thursday, reaching $236.91. The company’s stock had a trading volume of 815,729 shares, compared to its average volume of 1,697,914. The firm has a fifty day moving average of $245.18 and a 200 day moving average of $243.83. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The stock has a market capitalization of $96.96 billion, a PE ratio of 26.44, a P/E/G ratio of 2.39 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 (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 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 firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts expect that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADP. JPMorgan Chase & Co. reduced their price target on shares of 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 objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. TD Cowen cut their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Barclays boosted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $255.42.

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.