Geneos Wealth Management Inc. Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Geneos Wealth Management Inc. grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,885 shares of the business services provider’s stock after purchasing an additional 100 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Automatic Data Processing were worth $2,718,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ADP. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $35,000. Pineridge Advisors LLC bought a new stake in Automatic Data Processing during the fourth quarter valued at $39,000. Evolution Advisers Inc. purchased a new position in Automatic Data Processing during the fourth quarter worth about $41,000. Raleigh Capital Management Inc. increased its stake in 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 worth $42,000 after acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of several recent analyst reports. Barclays boosted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their target price 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. TD Cowen decreased their price objective on 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, Evercore ISI upped their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Stock Up 0.6 %

ADP traded up $1.48 during midday trading on Thursday, reaching $235.63. The company’s stock had a trading volume of 1,577,533 shares, compared to its average volume of 1,685,355. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The stock’s 50-day moving average is $244.22 and its 200-day moving average is $243.93. The firm has a market capitalization of $96.44 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.36 and a beta of 0.78. 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 posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share 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 for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the business posted $2.52 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

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.