Woodmont Investment Counsel LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,670 shares of the business services provider’s stock after buying an additional 230 shares during the period. Woodmont Investment Counsel LLC’s holdings in Automatic Data Processing were worth $1,166,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ADP. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $39,000. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.
Automatic Data Processing Stock Performance
Shares of Automatic Data Processing stock opened at $236.63 on Wednesday. The stock’s fifty day moving average is $245.58 and its two-hundred day moving average is $243.86. The company has a market capitalization of $96.85 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on ADP shares. JPMorgan Chase & Co. decreased their price objective 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. Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Mizuho boosted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $255.42.
Check Out Our Latest Stock Analysis on Automatic Data Processing
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.
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