First Foundation Advisors Sells 335 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

First Foundation Advisors cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 944 shares of the business services provider’s stock after selling 335 shares during the quarter. First Foundation Advisors’ holdings in Automatic Data Processing were worth $288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. Banque Cantonale Vaudoise bought a new stake in Automatic Data Processing during the first quarter worth about $4,953,000. Geneos Wealth Management Inc. grew its position in Automatic Data Processing by 77.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 20,283 shares of the business services provider’s stock worth $6,197,000 after acquiring an additional 8,823 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Automatic Data Processing during the 1st quarter valued at $92,000. Meeder Advisory Services Inc. raised its position in Automatic Data Processing by 5.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 12,920 shares of the business services provider’s stock valued at $3,948,000 after purchasing an additional 631 shares during the last quarter. Finally, JSF Financial LLC bought a new stake in shares of Automatic Data Processing during the first quarter worth $870,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.6%

Shares of NASDAQ ADP opened at $308.64 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $255.97 and a twelve month high of $329.93. The stock has a market cap of $125.28 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 2.81 and a beta of 0.76. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $311.17 and its 200-day moving average is $304.95.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 earnings per share. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research analyst reports. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. TD Securities raised their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. Royal Bank Of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $309.62.

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.