Bogart Wealth LLC Increases Stock Holdings in Automatic Data Processing, Inc. (NASDAQ: ADP)
Bogart Wealth LLC has recently ramped up its investment in Automatic Data Processing, Inc. (NASDAQ: ADP) by 1.0% during the first quarter, as reported by HoldingsChannel.com. The fund now holds 27,079 shares of the business services company, representing an additional 257 shares acquired.
With their holdings now valued at $8,273,000 by the end of the last reporting period, Bogart Wealth LLC joins a slew of other institutional investors who have shown increased interest in Automatic Data Processing. Catalyst Financial Partners LLC, Driver Financial Partners LLC, Florida Financial Advisors LLC, BHK Investment Advisors LLC, MQS Management LLC, and Asset Devotion LLC have all either expanded their positions or initiated new stakes in the company.
Current Market Performance
Despite recent institutional interest, Automatic Data Processing’s stock experienced a 1.0% decline, opening at $302.65 on the NASDAQ exchange. The company’s stock has seen a 52-week low of $238.19 and a high of $329.93, with a market capitalization of $122.85 billion.
Key financial metrics for Automatic Data Processing include a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.77, and a beta of 0.76. The company also maintains healthy liquidity ratios with a fast ratio and current ratio both at 1.02, while sporting a debt-to-equity ratio of 0.51.
Expert Analysis and Ratings
Analysts have recently adjusted their outlook on ADP. TD Securities, Morgan Stanley, BMO Capital Markets, Mizuho, and UBS Group have all revised their price targets and recommendations on the stock, with the majority settling on a ‘Hold’ rating.
Market consensus, as reported by MarketBeat.com, indicates a ‘Hold’ rating for Automatic Data Processing with a target price of $309.62.
About Automatic Data Processing
Automatic Data Processing, Inc. is a global provider of cloud-based human capital management solutions. The company’s operations are divided into two segments, Employer Services and Professional Employer Organization (PEO), offering strategic HR outsourcing solutions through cloud-based platforms.
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