Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,931 shares of the business services provider's stock after selling 2,944 shares during the quarter. Heritage Investors Management Corp's holdings in Automatic Data Processing were worth $21,977,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in 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 purchasing an additional 2,892,660 shares during the period. Norges Bank purchased a new stake in Automatic Data Processing during the fourth quarter worth about $455,993,000. Winslow Capital Management LLC purchased a new stake in Automatic Data Processing during the fourth quarter worth about $396,714,000. Capital Research Global Investors increased its stake in Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the period. Finally, Northern Trust Corp increased its stake in Automatic Data Processing by 17.1% during 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 during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent research reports. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. TD Securities upped their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Finally, UBS Group cut 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 note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $309.62.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $301.79 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average price of $312.56 and a 200 day moving average price of $304.18. Automatic Data Processing, Inc. has a 1-year low of $245.80 and a 1-year high of $329.93. The company has a market cap of $122.50 billion, a PE ratio of 30.89, a P/E/G ratio of 2.76 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 (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.88 earnings per share. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Company 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.

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