Janney Capital Management LLC Buys 8,794 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Janney Capital Management LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 615.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,223 shares of the business services provider’s stock after buying an additional 8,794 shares during the quarter. Janney Capital Management LLC’s holdings in Automatic Data Processing were worth $2,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Norges Bank acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $308,321,000. International Assets Investment Management LLC lifted its holdings in Automatic Data Processing by 22,539.4% in the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after buying an additional 930,199 shares during the period. Capital Research Global Investors lifted its holdings in Automatic Data Processing by 22.5% in 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. Vanguard Group Inc. lifted its holdings in Automatic Data Processing by 1.1% in 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 buying an additional 412,434 shares during the period. Finally, Comerica Bank acquired a new position in Automatic Data Processing in the third quarter valued at $74,595,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent analyst reports. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. dropped 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 report on Thursday, May 2nd. Barclays boosted their target price 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. TD Cowen dropped their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Finally, Mizuho upped their price objective 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 issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $1.35 during trading on Friday, reaching $235.56. The company had a trading volume of 1,847,304 shares, compared to its average volume of 1,593,071. The company has a fifty day moving average of $244.84 and a two-hundred day moving average of $243.79. The stock has a market capitalization of $96.41 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 2.39 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. 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 (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm earned $2.52 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast 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.