Jupiter Asset Management Ltd. Has $46.38 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Automatic Data Processing, Inc. by 8.9% during the first quarter, holding 151,792 shares valued at $46.38 million after selling 14,861 shares.
• Hedge funds have shown increased interest in Automatic Data Processing, with Brighton Jones LLC boosting its holdings by 92.1% in the last quarter, leading to a total of 10,026 shares owned.
• Automatic Data Processing recently reported $2.26 earnings per share, surpassing analysts' expectations, with revenues of $5.13 billion reflecting a 6.3% year-over-year growth.

Jupiter Asset Management Ltd. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,792 shares of the business services provider's stock after selling 14,861 shares during the period. Jupiter Asset Management Ltd.'s holdings in Automatic Data Processing were worth $46,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in Automatic Data Processing during the 1st quarter worth $30,000. Main Street Group LTD raised its stake in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares during the period. Abound Wealth Management raised its stake in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after buying an additional 43 shares during the period. Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing during the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing during the 4th quarter worth $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus lifted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock 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 company a "hold" rating in a research note on Wednesday, May 21st. Finally, Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average target price of $314.33.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $1.82 during trading on Monday, reaching $302.26. 1,560,102 shares of the stock were exchanged, compared to its average volume of 1,475,446. Automatic Data Processing, Inc. has a 12 month low of $256.47 and a 12 month high of $329.93. The firm has a market cap of $122.69 billion, a PE ratio of 30.29, a PEG ratio of 2.76 and a beta of 0.81. The stock has a 50-day moving average price of $310.28 and a 200-day moving average price of $305.33. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The business's revenue was up 6.3% on a year-over-year basis. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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.