KLP Kapitalforvaltning AS Purchases 1,200 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

KLP Kapitalforvaltning AS increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,079 shares of the business services provider's stock after buying an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Automatic Data Processing were worth $57,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing during the first quarter worth $30,000. Main Street Group LTD boosted its stake in Automatic Data Processing by 50.7% in 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 during the last quarter. Abound Wealth Management increased its position in Automatic Data Processing by 58.1% in the first 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 last quarter. Banque de Luxembourg S.A. purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Automatic Data Processing in the 4th quarter valued at approximately $37,000. Institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ADP. UBS Group cut 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 report on Friday, June 13th. Stifel Nicolaus increased their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Mizuho upped their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. 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 report on Thursday, June 5th. Finally, TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. 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, the stock presently has an average rating of "Hold" and a consensus price target of $309.62.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $2.10 during trading hours on Friday, hitting $308.34. The company's stock had a trading volume of 367,498 shares, compared to its average volume of 1,747,171. The company has a market cap of $125.16 billion, a PE ratio of 31.56, a PEG ratio of 2.79 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50 day moving average price of $311.99 and a two-hundred day moving average price of $304.46. Automatic Data Processing, Inc. has a 12-month low of $249.49 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the firm earned $2.88 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. Analysts expect 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.