DekaBank Deutsche Girozentrale Has $148.20 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

DekaBank Deutsche Girozentrale lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 497,521 shares of the business services provider's stock after purchasing an additional 15,291 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.12% of Automatic Data Processing worth $148,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADP. GAMMA Investing LLC boosted its stake in shares of Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after purchasing an additional 2,892,660 shares during the last quarter. Norges Bank acquired a new position in Automatic Data Processing in the fourth quarter valued at $455,993,000. Winslow Capital Management LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at $396,714,000. Capital Research Global Investors lifted its holdings in Automatic Data Processing by 26.9% in the fourth 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 buying an additional 1,299,390 shares during the period. Finally, Northern Trust Corp lifted its holdings 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 valued at $1,807,438,000 after buying an additional 902,354 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Down 1.0%

ADP traded down $3.17 during trading on Friday, hitting $302.65. 1,097,348 shares of the company's stock were exchanged, compared to its average volume of 1,710,573. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $313.00 and its two-hundred day moving average is $303.89. Automatic Data Processing, Inc. has a fifty-two week low of $235.99 and a fifty-two week high of $329.93. The stock has a market cap of $122.85 billion, a P/E 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 quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The business's revenue was up 5.7% on a year-over-year basis. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on ADP. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a report on Thursday. Mizuho boosted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. UBS Group dropped 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. Finally, Morgan Stanley boosted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. One research 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. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and a consensus price target of $309.62.

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.