Lynx Investment Advisory Purchases Shares of 402 Automatic Data Processing, Inc. (NASDAQ:ADP)

Lynx Investment Advisory acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 402 shares of the business services provider’s stock, valued at approximately $96,000.

Several other large investors also recently made changes to their positions in ADP. Keener Financial Planning LLC boosted its position in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing in the first quarter worth $33,000. Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the first quarter worth $36,000. Pineridge Advisors LLC bought a new position in Automatic Data Processing in the fourth quarter valued at $39,000. Finally, Evolution Advisers Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $41,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADP shares. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Barclays upped their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $262.18.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $1.33 on Tuesday, hitting $259.47. The company had a trading volume of 1,847,459 shares, compared to its average volume of 1,691,874. The stock has a market cap of $106.20 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 2.72 and a beta of 0.78. The stock has a 50 day moving average price of $245.30 and a 200 day moving average price of $246.07. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $269.49. 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 announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 EPS. Analysts expect that Automatic Data Processing, Inc. will post 10.01 EPS for the current 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.