Waverly Advisors LLC Has $1.32 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Waverly Advisors LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,288 shares of the business services provider’s stock after purchasing an additional 844 shares during the period. Waverly Advisors LLC’s holdings in Automatic Data Processing were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ADP. Vanguard Group Inc. increased its position in Automatic Data Processing by 0.4% during the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after acquiring an additional 173,298 shares during the period. Wellington Management Group LLP increased its holdings in shares of Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares during the period. Capital Research Global Investors raised its position in shares of Automatic Data Processing by 2.3% in the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after buying an additional 81,869 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after buying an additional 589,831 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Automatic Data Processing by 16.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,124,476 shares of the business services provider’s stock valued at $530,567,000 after buying an additional 307,156 shares during the period. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent research reports. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. TD Cowen decreased their price target 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. Barclays upped their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $253.50.

Automatic Data Processing Stock Up 2.4 %

Shares of NASDAQ ADP opened at $264.00 on Wednesday. The company has a market cap of $108.05 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 2.67 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $264.00. The stock has a 50-day moving average price of $244.45 and a two-hundred day moving average price of $245.35.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.52 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.16 earnings per share 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.