Exchange Traded Concepts LLC increases its stock holding in Automatic Data Processing, Inc. (NASDAQ: ADP)


Exchange Traded Concepts LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ: ADPGet a rating) by 57.6% during the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The fund held 1,155 shares of the business services provider after acquiring an additional 422 shares during the period. Exchange Traded Concepts LLC’s holdings in automatic data processing were worth $263,000 at the end of last quarter.

Several other major investors have also changed their position in the company. First Hawaiian Bank raised its position in Automatic Data Processing stocks by 1.1% during the first quarter. First Hawaiian Bank now owns 4,176 shares of the business services provider worth $950,000 after buying 45 more shares in the last quarter. Baystate Wealth Management LLC increased its position in shares of Automatic Data Processing by 3.2% during the fourth quarter. Baystate Wealth Management LLC now owns 1,482 shares of the business services provider worth $366,000 after buying 46 additional shares last quarter. Lindbrook Capital LLC increased its position in Automatic Data Processing shares by 1.4% during the first quarter. Lindbrook Capital LLC now owns 3,302 shares of the business services provider worth $751,000 after buying 46 additional shares last quarter. Atlantic Union Bankshares Corp increased its stake in Automatic Data Processing shares by 0.4% in Q1. Atlantic Union Bankshares Corp now owns 10,589 shares of the business services provider worth $2,409,000 after buying 47 more shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Automatic Data Processing shares by 1.4% in the 1st quarter. Empowered Funds LLC now owns 3,480 shares of the business services provider worth $792,000 after buying 48 additional shares in the last quarter. 78.84% of the shares are held by hedge funds and other institutional investors.

Automatic processing of Stock Performance data

ADP Share opened at $214.13 on Friday. The company has a debt ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $89.45 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.27 and a beta of 0.81. The company has a 50-day simple moving average of $212.91 and a 200-day simple moving average of $216.82. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $248.96.

Automatic data processing (NASDAQ: ADPGet a rating) last released its quarterly results on Wednesday, April 27. The business services provider reported EPS of $2.21 for the quarter, beating the consensus estimate of $2.07 by $0.14. The company posted revenue of $4.51 billion in the quarter, compared to $4.45 billion expected by analysts. Automatic data processing generated a net margin of 17.77% and a return on equity of 56.01%. The company’s quarterly revenue increased by 10.0% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $1.89. Research analysts expect Automatic Data Processing, Inc. to post earnings per share of 6.98 for the current fiscal year.

Buying and Selling Automatic Data Processing Insiders

In other news on automatic data processing, VP Augusto J. Blanchard sold 567 shares of Automatic Data Processing in a trade that took place on Tuesday, July 5. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the sale, the vice president now directly owns 4,238 shares of the company, valued at $892,692.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other automatic data processing news, Vice Chairman Augusto J. Blanchard sold 567 shares of automatic data processing in a trade that took place on Tuesday, July 5. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the sale, the vice president now directly owns 4,238 shares of the company, valued at $892,692.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, Vice President Christopher D’Ambrosio sold 312 shares of Automatic Data Processing in a trade that took place on Monday, May 9. The shares were sold at an average price of $214.07, for a total transaction of $66,789.84. Following the completion of the sale, the vice president now owns 1,663 shares of the company, valued at $355,998.41. Disclosure of this sale can be found here. Company insiders own 0.34% of the company’s shares.

Analyst upgrades and downgrades

Several brokerages have recently released reports on ADP. Barclays raised its price target on automatic data processing shares from $238.00 to $257.00 and gave the stock an “overweight” rating in a Monday May 2 research note. StockNews.com began covering automatic data processing stocks in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Citigroup raised its price target on automatic data processing shares from $212.00 to $230.00 in a Monday, May 2 research note. Deutsche Bank Aktiengesellschaft raised its price target on automatic data processing shares from $203.00 to $234.00 in a Thursday, April 28 research note. Finally, Mizuho raised its price target on automatic data processing stock from $235.00 to $250.00 and gave the stock a “buy” rating in a Monday, May 2 research report. . One analyst rated the stock with a sell rating, ten gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $230.69.

About automatic data processing

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Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.

Further reading

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



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