Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Raised by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 75.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 737,403 shares of the business services provider's stock after purchasing an additional 317,146 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.18% of Automatic Data Processing worth $245,991,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in Automatic Data Processing in the first quarter valued at about $30,000. Main Street Group LTD grew its stake in shares of Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after acquiring an additional 38 shares in the last quarter. Abound Wealth Management grew its stake in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $2.02 during trading hours on Friday, reaching $308.26. The company's stock had a trading volume of 343,188 shares, compared to its average volume of 1,747,035. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $311.99 and a 200 day simple moving average of $304.46. Automatic Data Processing, Inc. has a 52 week low of $249.49 and a 52 week high of $329.93. The stock has a market cap of $125.13 billion, a PE ratio of 31.55, a PEG ratio of 2.79 and a beta of 0.76.

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

Analysts Set New Price Targets

ADP has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. TD Securities lifted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their price target on 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. Finally, Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.