Arizona State Retirement System Purchases 1,588 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Arizona State Retirement System boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,504 shares of the business services provider's stock after purchasing an additional 1,588 shares during the period. Arizona State Retirement System's holdings in Automatic Data Processing were worth $36,512,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ADP. GAMMA Investing LLC increased its holdings in shares of Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock worth $886,345,000 after buying an additional 2,892,660 shares in the last quarter. Norges Bank acquired a new stake in Automatic Data Processing during the 4th quarter valued at $455,993,000. Winslow Capital Management LLC bought a new position in Automatic Data Processing in the 4th quarter valued at $396,714,000. Capital Research Global Investors raised its position in Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock worth $1,807,438,000 after purchasing an additional 902,354 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. UBS Group reduced their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and an average price target of $309.62.

Automatic Data Processing Trading Down 1.0%

Shares of NASDAQ:ADP traded down $3.17 during midday trading on Friday, hitting $302.65. The company had a trading volume of 1,097,348 shares, compared to its average volume of 1,710,573. 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, Inc. has a 12 month low of $235.99 and a 12 month high of $329.93. The firm has a fifty day simple moving average of $313.00 and a 200 day simple moving average of $303.89. The stock has a market cap of $122.85 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.80 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its 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 firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 earnings per share. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing 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.