Kesler Norman & Wride LLC Has $2.60 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kesler Norman & Wride LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,419 shares of the business services provider’s stock after selling 246 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Automatic Data Processing were worth $2,602,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ADP. Alps Advisors Inc. grew its position in Automatic Data Processing by 99.4% in 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 during the period. Elevatus Welath Management acquired a new stake in Automatic Data Processing in the 3rd quarter valued at $206,000. Legacy Advisors LLC grew its position in Automatic Data Processing by 8.4% in the 3rd quarter. Legacy Advisors LLC now owns 11,738 shares of the business services provider’s stock valued at $2,839,000 after purchasing an additional 914 shares during the period. Royal London Asset Management Ltd. grew its position in Automatic Data Processing by 5.7% in the 3rd quarter. Royal London Asset Management Ltd. now owns 181,901 shares of the business services provider’s stock valued at $43,768,000 after purchasing an additional 9,831 shares during the period. Finally, Baker Avenue Asset Management LP lifted its stake 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 valued at $3,034,000 after acquiring an additional 4,217 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on 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. 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 note on Thursday, May 2nd. Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Price Performance

ADP stock traded up $0.28 during mid-day trading on Thursday, reaching $236.91. 815,729 shares of the company traded hands, compared to its average volume of 1,697,914. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $96.96 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.39 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a fifty day moving average price of $245.18 and a 200-day moving average price of $243.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm earned $2.52 earnings per share. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

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.