Automatic Data Processing, Inc. (NASDAQ:ADP) is Heathbridge Capital Management Ltd.'s 10th Largest Position

Heathbridge Capital Management Ltd. lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,300 shares of the business services provider's stock after selling 875 shares during the period. Automatic Data Processing comprises about 4.1% of Heathbridge Capital Management Ltd.'s investment portfolio, making the stock its 10th biggest position. Heathbridge Capital Management Ltd.'s holdings in Automatic Data Processing were worth $10,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Automatic Data Processing by 0.7% during 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 during the last quarter. Geode Capital Management LLC grew its holdings in shares of Automatic Data Processing by 0.6% during 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 during the last quarter. Northern Trust Corp grew its holdings in shares of Automatic Data Processing by 17.1% during 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 during the last quarter. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 26.9% during 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 during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Automatic Data Processing by 6.0% during 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 during the last quarter. Institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group cut their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Mizuho raised their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. One 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $309.62.

Automatic Data Processing Trading Up 0.7%

Shares of NASDAQ:ADP traded up $2.09 on Wednesday, hitting $300.27. The company had a trading volume of 1,525,481 shares, compared to its average volume of 1,709,715. The firm's 50-day simple moving average is $312.88 and its two-hundred day simple moving average is $304.00. Automatic Data Processing, Inc. has a 1 year low of $244.65 and a 1 year high of $329.93. 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 firm has a market capitalization of $121.89 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.78 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period last year, the company posted $2.88 EPS. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing 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.