Tributary Capital Management LLC Invests $50,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tributary Capital Management LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200 shares of the business services provider’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also modified their holdings of ADP. Ameriprise Financial Inc. raised its stake in Automatic Data Processing by 18.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after purchasing an additional 553,946 shares during the last quarter. Alps Advisors Inc. raised its stake in Automatic Data Processing by 99.4% during the 3rd quarter. Alps Advisors Inc. now owns 21,574 shares of the business services provider’s stock valued at $5,190,000 after purchasing an additional 10,755 shares during the last quarter. Elevatus Welath Management acquired a new position in Automatic Data Processing during the 3rd quarter valued at $206,000. Legacy Advisors LLC increased its holdings in Automatic Data Processing by 8.4% in the 3rd quarter. Legacy Advisors LLC now owns 11,738 shares of the business services provider’s stock valued at $2,839,000 after buying an additional 914 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in Automatic Data Processing by 5.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 181,901 shares of the business services provider’s stock valued at $43,768,000 after buying an additional 9,831 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ:ADP opened at $236.63 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The company’s 50-day moving average price is $245.58 and its two-hundred day moving average price is $243.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market cap of $96.85 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The company’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen lowered 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. Barclays boosted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. JPMorgan Chase & Co. lowered 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 report on Thursday, May 2nd. Finally, Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $255.42.

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.