Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 44.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,890 shares of the business services provider's stock after buying an additional 4,259 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Automatic Data Processing were worth $4,244,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Forum Financial Management LP boosted its holdings in Automatic Data Processing by 7.4% in the first quarter. Forum Financial Management LP now owns 5,107 shares of the business services provider's stock worth $1,560,000 after purchasing an additional 352 shares during the period. Asset Advisors Investment Management LLC lifted its position in shares of Automatic Data Processing by 3.9% in the 1st quarter. Asset Advisors Investment Management LLC now owns 5,367 shares of the business services provider's stock worth $1,640,000 after buying an additional 200 shares during the last quarter. Members Trust Co boosted its holdings in shares of Automatic Data Processing by 9.2% in the 1st quarter. Members Trust Co now owns 1,963 shares of the business services provider's stock valued at $600,000 after buying an additional 165 shares during the period. Bailard Inc. boosted its holdings in shares of Automatic Data Processing by 4.4% in the 1st quarter. Bailard Inc. now owns 11,480 shares of the business services provider's stock valued at $3,507,000 after buying an additional 482 shares during the period. Finally, Ascent Wealth Partners LLC grew its position in shares of Automatic Data Processing by 5.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 53,139 shares of the business services provider's stock valued at $16,236,000 after buying an additional 2,710 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $0.33 during trading hours on Friday, hitting $301.79. 1,653,898 shares of the company traded hands, compared to its average volume of 1,709,097. Automatic Data Processing, Inc. has a 1-year low of $244.65 and a 1-year high of $329.93. The firm has a market cap of $122.50 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.77 and a beta of 0.76. The firm's 50-day simple moving average is $312.56 and its two-hundred day simple moving average is $304.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for 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%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. Mizuho raised their target price 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. UBS Group cut their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Morgan Stanley raised their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of "Hold" and an average price target 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.