Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the 1st quarter, Holdings Channel reports. The firm owned 247,474 shares of the business services provider’s stock after buying an additional 4,253 shares during the period. Toronto Dominion Bank’s holdings in Automatic Data Processing were worth $61,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Investment Group Inc. boosted its position in Automatic Data Processing by 1.9% during the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after acquiring an additional 41 shares during the last quarter. Bedel Financial Consulting Inc. boosted its holdings in shares of Automatic Data Processing by 0.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after purchasing an additional 42 shares during the last quarter. Argus Investors Counsel Inc. grew its position in shares of Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after purchasing an additional 43 shares during the period. Prestige Wealth Management Group LLC increased its stake in Automatic Data Processing by 0.8% in the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after purchasing an additional 43 shares during the last quarter. Finally, Patron Partners LLC lifted its position in Automatic Data Processing by 1.6% during the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ADP. Barclays lifted their price target on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Finally, TD Cowen decreased their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Up 1.2 %

Shares of NASDAQ:ADP traded up $3.09 during midday trading on Friday, hitting $252.67. 1,449,549 shares of the company’s stock traded hands, compared to its average volume of 1,664,555. The company has a market cap of $103.42 billion, a PE ratio of 28.20, a P/E/G ratio of 2.49 and a beta of 0.78. The firm’s fifty day moving average price is $244.27 and its two-hundred day moving average price is $244.92. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.52 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Company 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.