Clearbridge Investments LLC Has $198.24 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Clearbridge Investments LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 793,783 shares of the business services provider’s stock after selling 38,823 shares during the period. Clearbridge Investments LLC’s holdings in Automatic Data Processing were worth $198,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC boosted its stake in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $35,000. Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $39,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $41,000. Finally, Bfsg LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded up $0.36 during mid-day trading on Tuesday, hitting $248.35. The stock had a trading volume of 764,018 shares, compared to its average volume of 1,666,700. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The stock has a market cap of $101.65 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.49 and a beta of 0.78. The company’s 50 day simple moving average is $244.26 and its 200 day simple moving average is $244.76. 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 issued its quarterly earnings data 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 firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $2.52 earnings per share. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays raised their price objective on 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 decreased their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 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 report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $255.42.

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.