Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,261 shares of the business services provider’s stock after selling 417 shares during the period. Wambolt & Associates LLC’s holdings in Automatic Data Processing were worth $309,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Automatic Data Processing in the fourth quarter worth $35,000. Pineridge Advisors LLC bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $39,000. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $41,000. Raleigh Capital Management Inc. increased its position in Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new position in Automatic Data Processing in the fourth quarter valued at about $42,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $1.35 during trading on Friday, reaching $235.56. The stock had a trading volume of 1,847,304 shares, compared to its average volume of 1,593,071. The stock has a market capitalization of $96.41 billion, a PE ratio of 26.29, 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, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The business’s 50-day moving average price is $244.84 and its 200 day moving average price is $243.79.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Finally, TD Cowen dropped their price objective on 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price 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.