Monument Capital Management Has $269,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Monument Capital Management decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077 shares of the business services provider’s stock after selling 97 shares during the quarter. Monument Capital Management’s holdings in Automatic Data Processing were worth $269,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in Automatic Data Processing by 99.4% during the 3rd quarter. Alps Advisors Inc. now owns 21,574 shares of the business services provider’s stock valued at $5,190,000 after purchasing an additional 10,755 shares in the last quarter. Elevatus Welath Management bought a new stake in shares of Automatic Data Processing during the third quarter worth $206,000. Legacy Advisors LLC increased its stake in shares of Automatic Data Processing by 8.4% in the third quarter. Legacy Advisors LLC now owns 11,738 shares of the business services provider’s stock valued at $2,839,000 after buying an additional 914 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Automatic Data Processing by 5.7% in the third quarter. Royal London Asset Management Ltd. now owns 181,901 shares of the business services provider’s stock valued at $43,768,000 after buying an additional 9,831 shares during the last quarter. Finally, Baker Avenue Asset Management LP lifted its position in Automatic Data Processing by 50.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 12,610 shares of the business services provider’s stock worth $3,034,000 after buying an additional 4,217 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $236.91 on Thursday. 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 12-month low of $205.53 and a 12-month high of $256.84. The firm has a fifty day moving average of $245.37 and a 200-day moving average of $243.88. The firm has a market capitalization of $96.96 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.52 earnings per share. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.