Automatic Data Processing, Inc. (NASDAQ:ADP) is Hemenway Trust Co LLC’s 9th Largest Position

Hemenway Trust Co LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 159,609 shares of the business services provider’s stock after selling 2,957 shares during the period. Automatic Data Processing accounts for 3.5% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 9th largest position. Hemenway Trust Co LLC’s holdings in Automatic Data Processing were worth $39,861,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Keener Financial Planning LLC boosted its position in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Automatic Data Processing in the 4th quarter worth approximately $35,000. Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing in the 4th quarter worth $39,000. Raleigh Capital Management Inc. raised its position in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Finally, Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter worth $41,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADP. Evercore ISI raised their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. reduced 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. TD Cowen lowered their price target 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. 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. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Trading Up 0.6 %

Shares of Automatic Data Processing stock traded up $1.48 during midday trading on Thursday, reaching $235.63. 1,577,533 shares of the company’s stock traded hands, compared to its average volume of 1,687,663. The company has a market cap of $96.44 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The stock has a 50 day moving average of $244.09 and a 200-day moving average of $243.87. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

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