KFG Wealth Management LLC Has $744,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

KFG Wealth Management LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,980 shares of the business services provider’s stock after acquiring an additional 164 shares during the period. KFG Wealth Management LLC’s holdings in Automatic Data Processing were worth $744,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at $35,000. Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter worth about $39,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $41,000. Raleigh Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at approximately $42,000. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ADP shares. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a 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 note on Monday, March 11th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. reduced 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 research note on Thursday, May 2nd. Finally, TD Cowen lowered 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Stock Performance

Shares of ADP stock traded up $0.28 during trading on Wednesday, hitting $236.91. The company’s stock had a trading volume of 815,729 shares, compared to its average volume of 1,688,563. The business has a fifty day moving average of $245.37 and a 200-day moving average of $243.88. The company has a current ratio of 1.01, a quick 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. The company has a market cap of $96.96 billion, a PE ratio of 26.45, a P/E/G ratio of 2.62 and a beta of 0.78.

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

Automatic Data Processing Company 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.