Cadence Bank cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,331 shares of the business services provider’s stock after selling 61 shares during the period. Cadence Bank’s holdings in Automatic Data Processing were worth $1,331,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in ADP. Vanguard Group Inc. grew its stake in Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares in the last quarter. Wellington Management Group LLP increased its holdings in Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after buying an additional 249,566 shares during the last quarter. Capital Research Global Investors raised its position in Automatic Data Processing by 22.5% during the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after acquiring an additional 649,791 shares in the last quarter. Nordea Investment Management AB lifted its stake in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after acquiring an additional 589,831 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Automatic Data Processing by 16.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,124,476 shares of the business services provider’s stock valued at $530,567,000 after acquiring an additional 307,156 shares during the period. Institutional investors own 80.03% of the company’s stock.
Automatic Data Processing Price Performance
Shares of ADP traded up $3.09 during midday trading on Friday, hitting $252.67. The company’s stock had a trading volume of 1,449,549 shares, compared to its average volume of 1,664,555. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The stock has a market capitalization of $103.42 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The company’s fifty day simple moving average is $244.26 and its two-hundred day simple moving average is $244.81.
Analyst Ratings Changes
ADP has been the subject of a number of recent analyst reports. Barclays raised their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. TD Cowen cut their target price on shares of 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, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $255.42.
Check Out Our Latest Research Report on ADP
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.
Further Reading
- Five stocks we like better than Automatic Data Processing
- Trading Stocks: RSI and Why it’s Useful
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- What Are Growth Stocks and Investing in Them
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- Why Invest in High-Yield Dividend Stocks?
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.