Resources Management Corp CT ADV Grows Stock Position in Automatic Data Processing, Inc. $ADP

Resources Management Corp CT ADV raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,567 shares of the business services provider’s stock after acquiring an additional 2,611 shares during the quarter. Resources Management Corp CT ADV’s holdings in Automatic Data Processing were worth $5,804,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADP. Northcape Wealth Management LLC boosted its stake in shares of Automatic Data Processing by 0.6% in the fourth quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider’s stock valued at $1,692,000 after purchasing an additional 39 shares during the period. Rathbones Group PLC increased its stake in Automatic Data Processing by 1.1% during the 4th quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider’s stock worth $1,036,000 after buying an additional 42 shares during the period. Zullo Investment Group Inc. increased its stake in Automatic Data Processing by 2.3% during the 4th quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider’s stock worth $485,000 after buying an additional 42 shares during the period. Trilogy Capital Inc. lifted its holdings in Automatic Data Processing by 5.3% in the 4th quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider’s stock worth $219,000 after buying an additional 43 shares in the last quarter. Finally, Blossom Wealth Management lifted its holdings in Automatic Data Processing by 3.1% in the 4th quarter. Blossom Wealth Management now owns 1,470 shares of the business services provider’s stock worth $378,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 3.6%

Shares of NASDAQ ADP opened at $264.17 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $233.13 and its two-hundred day moving average price is $224.26. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $315.98. The stock has a market capitalization of $105.60 billion, a P/E ratio of 24.64 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the business earned $3.06 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research note on Tuesday, April 7th. Robert W. Baird cut their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Citigroup reduced their price target on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Cantor Fitzgerald lifted their price objective on Automatic Data Processing from $244.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $256.00.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.