Earnest Partners LLC Has $2.42 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Earnest Partners LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,680 shares of the business services provider’s stock after selling 175 shares during the quarter. Earnest Partners LLC’s holdings in Automatic Data Processing were worth $2,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Keener Financial Planning LLC lifted its stake in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC bought a new stake in Automatic Data Processing during the first quarter worth $33,000. Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at $39,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter valued at $41,000. Finally, Bfsg LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADP shares. JPMorgan Chase & Co. dropped 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. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. TD Cowen dropped 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. Finally, Barclays raised their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $253.50.

Automatic Data Processing Stock Up 1.1 %

Shares of ADP traded up $2.75 during trading hours on Tuesday, hitting $257.96. The stock had a trading volume of 377,827 shares, compared to its average volume of 1,659,424. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $244.34 and a 200-day simple moving average of $245.19. The firm has a market capitalization of $105.58 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 2.64 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $258.45.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the firm earned $2.52 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

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.