ASR Vermogensbeheer N.V. purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 57,495 shares of the business services provider's stock, valued at approximately $17,566,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in shares of Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock worth $173,000 after acquiring an additional 129 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after buying an additional 1,148 shares during the last quarter. Toronto Dominion Bank increased its stake in Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after purchasing an additional 21,910 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Automatic Data Processing by 8.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock valued at $76,638,000 after purchasing an additional 20,467 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in Automatic Data Processing by 4.5% in the first quarter. Manchester Capital Management LLC now owns 3,384 shares of the business services provider's stock valued at $1,034,000 after purchasing an additional 146 shares in the last quarter. 80.03% of the stock is owned by institutional investors.
Automatic Data Processing Price Performance
ADP stock opened at $299.44 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 12 month low of $256.47 and a 12 month high of $329.93. The firm has a market cap of $121.55 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.77 and a beta of 0.81. The company's 50-day moving average price is $309.38 and its two-hundred day moving average price is $305.33.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.09 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.
Analysts Set New Price Targets
ADP has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Morgan Stanley increased their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $314.33.
Check Out Our Latest Stock Analysis on Automatic Data Processing
Automatic Data Processing Profile
(
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.
See Also
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