Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by United Community Bank

United Community Bank reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 85.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812 shares of the business services provider’s stock after selling 4,598 shares during the quarter. United Community Bank’s holdings in Automatic Data Processing were worth $203,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. boosted its holdings in Automatic Data Processing by 13.4% in the third quarter. Harbour Investments Inc. now owns 1,326 shares of the business services provider’s stock valued at $319,000 after purchasing an additional 157 shares in the last quarter. Creative Planning boosted its holdings in Automatic Data Processing by 20.5% in the third quarter. Creative Planning now owns 116,403 shares of the business services provider’s stock valued at $28,004,000 after purchasing an additional 19,826 shares in the last quarter. Spartan Planning & Wealth Management acquired a new position in Automatic Data Processing in the third quarter valued at approximately $498,000. Diversified Trust Co boosted its holdings in shares of Automatic Data Processing by 25.8% in the third quarter. Diversified Trust Co now owns 8,256 shares of the business services provider’s stock valued at $1,986,000 after acquiring an additional 1,693 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $213,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Barclays increased their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. TD Cowen cut their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Finally, Evercore ISI upped their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Trading Down 0.8 %

NASDAQ:ADP traded down $1.78 during mid-day trading on Wednesday, reaching $232.93. The company’s stock had a trading volume of 224,014 shares, compared to its average volume of 1,675,009. The company’s fifty day simple moving average is $244.49 and its two-hundred day simple moving average is $244.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The stock has a market cap of $95.34 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.36 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.52 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS 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.