United Capital Management of KS Inc. Purchases 98 Shares of Automatic Data Processing (NASDAQ:ADP)

United Capital Management of KS Inc. grew its position in Automatic Data Processing (NASDAQ:ADP) by 2.0% in the second quarter, Holdings Channel reports. The fund owned 5,060 shares of the business services provider’s stock after acquiring an additional 98 shares during the quarter. United Capital Management of KS Inc.’s holdings in Automatic Data Processing were worth $842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Horan Capital Advisors LLC. bought a new position in Automatic Data Processing during the 1st quarter worth $31,000. Paragon Capital Management LLC bought a new position in Automatic Data Processing during the 1st quarter worth $32,000. C J Advisory Inc acquired a new stake in Automatic Data Processing during the 1st quarter worth about $32,000. Cypress Capital Management LLC WY grew its holdings in Automatic Data Processing by 257.1% during the 1st quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock worth $32,000 after acquiring an additional 144 shares during the period. Finally, Permanens Capital L.P. acquired a new stake in Automatic Data Processing during the 1st quarter worth about $32,000. Institutional investors own 79.77% of the company’s stock.

Shares of ADP traded up $2.63 during trading hours on Tuesday, hitting $162.38. The stock had a trading volume of 62,623 shares, compared to its average volume of 1,921,630. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $165.92. The firm has a market cap of $69.53 billion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 2.05 and a beta of 0.91. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. On average, research analysts forecast that Automatic Data Processing will post 6.15 EPS for the current fiscal year.

A number of brokerages have weighed in on ADP. Jefferies Financial Group increased their price target on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. ValuEngine downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Sanford C. Bernstein downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Finally, BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, June 24th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $170.64.

In other news, VP Dermot J. O’brien sold 1,771 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the sale, the vice president now directly owns 14,896 shares in the company, valued at approximately $2,413,747.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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