Asahi Life Asset Management CO. LTD. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,755 shares of the business services provider's stock, valued at approximately $536,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock valued at $11,923,265,000 after purchasing an additional 277,324 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Automatic Data Processing by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock valued at $3,098,305,000 after purchasing an additional 65,965 shares in the last quarter. Northern Trust Corp boosted its holdings in Automatic Data Processing by 17.1% in the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after purchasing an additional 902,354 shares in the last quarter. Capital Research Global Investors boosted its holdings 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 in the last quarter. Finally, Invesco Ltd. boosted its holdings in Automatic Data Processing by 6.0% in the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock valued at $1,137,710,000 after purchasing an additional 219,032 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.
Automatic Data Processing Trading Down 1.0%
ADP stock opened at $302.65 on Monday. The business has a fifty day simple moving average of $313.00 and a 200-day simple moving average of $303.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 52 week low of $238.19 and a 52 week high of $329.93. The company has a market cap of $122.85 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.77 and a beta of 0.76.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the prior year, the company earned $2.88 EPS. The firm's revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.
Analysts Set New Price Targets
A number of research firms recently issued reports on ADP. Morgan Stanley upped their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group cut their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. TD Securities boosted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and an average price target of $309.62.
Read Our Latest Report on ADP
About Automatic Data Processing
(
Free Report)
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.
Further Reading
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