Bradley Foster & Sargent Inc. CT lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 13.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 91,748 shares of the business services provider’s stock after selling 13,730 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Automatic Data Processing were worth $18,641,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock valued at $4,903,769,000 after acquiring an additional 133,039 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Automatic Data Processing by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after acquiring an additional 136,876 shares in the last quarter. Capital Research Global Investors raised its position in shares of Automatic Data Processing by 4.6% in the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after acquiring an additional 372,413 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Automatic Data Processing by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock valued at $1,896,944,000 after purchasing an additional 544,210 shares during the period. Finally, Cardano Risk Management B.V. lifted its stake in shares of Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after purchasing an additional 3,223,855 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.
Automatic Data Processing Price Performance
Shares of NASDAQ ADP opened at $250.09 on Friday. The firm’s 50-day moving average price is $231.61 and its 200-day moving average price is $224.52. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98. The firm has a market capitalization of $99.97 billion, a P/E ratio of 23.33 and a beta of 0.83. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63.
Analyst Upgrades and Downgrades
Several brokerages recently commented on ADP. Wells Fargo & Company upped their target price on Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Citigroup lowered their target price on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Robert W. Baird dropped their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Cantor Fitzgerald increased their price target on Automatic Data Processing from $244.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $256.00.
Check Out Our Latest Stock Report on ADP
Automatic Data Processing Profile
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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