Raiffeisen Bank International AG Purchases 1,082 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Raiffeisen Bank International AG increased its stake in Automatic Data Processing, Inc. by 0.8%, acquiring an additional 1,082 shares in the first quarter, bringing its total holdings to nearly $40.9 million.
• Analyst ratings for ADP have varied, with a consensus rating of "Hold" and an average target price of $314.33, reflecting recent price objective changes from multiple firms.
• ADP posted quarterly earnings of $2.26 per share, surpassing analyst expectations and achieving a revenue of $5.13 billion, a 6.3% increase compared to the same quarter last year.

Raiffeisen Bank International AG boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,953 shares of the business services provider's stock after purchasing an additional 1,082 shares during the quarter. Raiffeisen Bank International AG's holdings in Automatic Data Processing were worth $40,899,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADP. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing in the 1st quarter worth approximately $30,000. Main Street Group LTD increased its stake in shares of 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 buying an additional 38 shares during the period. Abound Wealth Management increased its stake in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares during the period. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing in the 4th quarter worth $37,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Morgan Stanley boosted their price target on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Stifel Nicolaus upped their target price on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $314.33.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $0.67 on Tuesday, hitting $301.60. 243,420 shares of the company's stock were exchanged, compared to its average volume of 1,749,788. The stock has a 50-day moving average of $309.91 and a 200-day moving average of $305.37. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 52 week low of $256.47 and a 52 week high of $329.93. The stock has a market cap of $122.42 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 2.76 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the prior year, the company earned $2.09 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. Analysts expect 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.