MeadowBrook Investment Advisors LLC Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

MeadowBrook Investment Advisors LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,756 shares of the business services provider’s stock after selling 110 shares during the quarter. Automatic Data Processing comprises about 1.9% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 12th largest holding. MeadowBrook Investment Advisors LLC’s holdings in Automatic Data Processing were worth $2,064,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ADP. Brighton Jones LLC grew its holdings in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at $957,000. Assetmark Inc. boosted its stake in shares of Automatic Data Processing by 9.8% during the fourth quarter. Assetmark Inc. now owns 3,775 shares of the business services provider’s stock valued at $1,105,000 after acquiring an additional 338 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 42.8% during the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock valued at $1,090,000 after acquiring an additional 1,117 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president directly owned 7,364 shares of the company’s stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Morgan Stanley lifted their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. Stifel Nicolaus lifted their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Mizuho lifted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, UBS Group reduced their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $307.08.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $306.90 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $124.58 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The business has a 50 day simple moving average of $312.72 and a 200-day simple moving average of $303.73.

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

Automatic Data Processing 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.