Cetera Advisor Networks LLC Increases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cetera Advisor Networks LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 79,249 shares of the business services provider’s stock after acquiring an additional 4,353 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Automatic Data Processing were worth $19,792,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cetera Advisors LLC raised its stake in shares of Automatic Data Processing by 145.4% during the first quarter. Cetera Advisors LLC now owns 45,890 shares of the business services provider’s stock worth $11,460,000 after purchasing an additional 27,190 shares during the last quarter. Cetera Investment Advisers lifted its position in Automatic Data Processing by 323.5% in the first quarter. Cetera Investment Advisers now owns 154,319 shares of the business services provider’s stock valued at $38,539,000 after purchasing an additional 117,881 shares during the period. Atria Investments Inc lifted its holdings in shares of Automatic Data Processing by 13.0% in the 1st quarter. Atria Investments Inc now owns 53,422 shares of the business services provider’s stock valued at $13,328,000 after buying an additional 6,155 shares during the period. Swedbank AB purchased a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $59,387,000. Finally, Sanibel Captiva Trust Company Inc. raised its position in Automatic Data Processing by 0.7% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 14,380 shares of the business services provider’s stock worth $3,591,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADP. Barclays raised their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $259.64.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $2.22 during midday trading on Friday, reaching $263.52. The company’s stock had a trading volume of 2,310,606 shares, compared to its average volume of 1,644,141. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $269.49. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company has a 50 day moving average price of $245.11 and a 200 day moving average price of $245.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

About Automatic Data Processing

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.