AustralianSuper Pty Ltd Buys Shares of 59,056 Automatic Data Processing, Inc. (NASDAQ:ADP)

AustralianSuper Pty Ltd purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 59,056 shares of the business services provider's stock, valued at approximately $18,043,000.

Other institutional investors also recently modified their holdings of the company. Sentinus LLC raised its stake in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after buying an additional 35 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC increased its stake in Automatic Data Processing by 2.4% in the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock valued at $478,000 after purchasing an additional 37 shares in the last quarter. Main Street Group LTD increased its stake in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. Finally, Howard Financial Services LTD. grew its holdings in Automatic Data Processing by 2.2% during the 1st quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock valued at $530,000 after buying an additional 38 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley increased their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group reduced their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Finally, Mizuho boosted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $309.62.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $0.89 during trading hours on Monday, hitting $300.90. 918,393 shares of the company's stock were exchanged, compared to its average volume of 1,707,198. The company has a market capitalization of $122.14 billion, a PE ratio of 30.80, a PEG ratio of 2.76 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $245.80 and a 12-month high of $329.93. The business's 50 day simple moving average is $312.56 and its 200-day simple moving average is $304.28. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

About Automatic Data Processing

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.