FDx Advisors Inc. Purchases 22,214 Shares of Automatic Data Processing (NASDAQ:ADP)

FDx Advisors Inc. boosted its position in Automatic Data Processing (NASDAQ:ADP) by 77.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,801 shares of the business services provider’s stock after acquiring an additional 22,214 shares during the quarter. FDx Advisors Inc.’s holdings in Automatic Data Processing were worth $8,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. bought a new position in shares of Automatic Data Processing during the first quarter valued at about $31,000. Paragon Capital Management LLC bought a new position in shares of Automatic Data Processing during the first quarter valued at about $32,000. C J Advisory Inc bought a new position in shares of Automatic Data Processing during the first quarter valued at about $32,000. Cypress Capital Management LLC WY grew its stake in shares of Automatic Data Processing by 257.1% during the first quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock valued at $32,000 after buying an additional 144 shares during the last quarter. Finally, Permanens Capital L.P. bought a new position in shares of Automatic Data Processing during the first quarter valued at about $32,000. 79.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of Automatic Data Processing stock traded up $4.32 during trading on Wednesday, reaching $169.33. 1,539,533 shares of the stock were exchanged, compared to its average volume of 2,348,168. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $166.00. The firm has a market cap of $73.67 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $170.45.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. Automatic Data Processing’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. On average, analysts predict that Automatic Data Processing will post 5.44 earnings per share for the current year.

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

A number of research analysts have recently issued reports on ADP shares. Barclays raised their price objective on WEX from $222.00 to $238.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Citigroup cut BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Sanford C. Bernstein cut Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $167.00.

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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