Tower Wealth Partners Inc. Sells 45 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tower Wealth Partners Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 950 shares of the business services provider’s stock after selling 45 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Automatic Data Processing were worth $237,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock valued at $9,224,713,000 after acquiring an additional 412,434 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Automatic Data Processing by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Automatic Data Processing by 18.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after buying an additional 553,946 shares during the last quarter. Capital Research Global Investors grew 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 valued at $825,487,000 after buying an additional 649,791 shares during the period. Finally, Nordea Investment Management AB grew its position in Automatic Data Processing by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 2,125,551 shares of the business services provider’s stock valued at $494,552,000 after buying an additional 99,731 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

NASDAQ ADP opened at $236.63 on Wednesday. The stock’s fifty day moving average price is $245.58 and its 200-day moving average price is $243.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $96.85 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.62 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its 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 business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.52 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADP. Evercore ISI raised their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target 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. Barclays raised their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Two investment 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’s stock. According to data from MarketBeat.com, the company 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.