Woodmont Investment Counsel LLC Purchases 230 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Woodmont Investment Counsel LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,670 shares of the business services provider’s stock after buying an additional 230 shares during the period. Woodmont Investment Counsel LLC’s holdings in Automatic Data Processing were worth $1,166,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADP. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $39,000. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $236.63 on Wednesday. The stock’s fifty day moving average is $245.58 and its two-hundred day moving average is $243.86. The company has a market capitalization of $96.85 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. 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 52 week low of $205.53 and a 52 week high of $256.84.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADP shares. JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Mizuho boosted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $255.42.

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.