Natixis Advisors LLC Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Natixis Advisors LLC increased its stake in Automatic Data Processing, Inc. by 3.3% during the first quarter, now owning 308,130 shares valued at approximately $94.1 million.
• Automatic Data Processing reported earnings per share of $2.26 for the last quarter, surpassing expectations and reflecting a 6.3% revenue growth year-over-year.
• Analysts have raised their price targets for ADP, with Mizuho expecting a target of $332.00 and BMO Capital Markets setting a target at $340.00, indicating positive sentiment for the stock.

Natixis Advisors LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 308,130 shares of the business services provider's stock after buying an additional 9,924 shares during the period. Natixis Advisors LLC owned approximately 0.08% of Automatic Data Processing worth $94,143,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in Automatic Data Processing by 29.6% during the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock valued at $173,000 after buying an additional 129 shares during the last quarter. GAMMA Investing LLC raised its position in Automatic Data Processing by 13.8% in the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after acquiring an additional 1,148 shares during the period. Toronto Dominion Bank raised its position 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 worth $69,290,000 after acquiring an additional 21,910 shares during the period. Wealth Enhancement Advisory Services LLC raised its position 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 worth $76,638,000 after acquiring an additional 20,467 shares during the period. Finally, Brighton Jones LLC raised its position in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADP. Mizuho increased their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group reduced their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, TD Securities increased their price objective 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus target price of $314.33.

Automatic Data Processing Price Performance

ADP stock traded down $9.06 during trading on Friday, hitting $300.44. 1,791,558 shares of the company's stock traded hands, compared to its average volume of 1,385,865. Automatic Data Processing, Inc. has a 52 week low of $256.47 and a 52 week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05. The business has a fifty day simple moving average of $310.28 and a 200 day simple moving average of $305.18. The stock has a market capitalization of $121.95 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 2.75 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 (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during 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 revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $2.09 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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.