Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 583.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,839 shares of the business services provider's stock after acquiring an additional 57,054 shares during the period. Los Angeles Capital Management LLC's holdings in Automatic Data Processing were worth $20,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after buying an additional 2,892,660 shares during the last quarter. Norges Bank acquired a new stake in Automatic Data Processing in the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter worth approximately $396,714,000. Capital Research Global Investors grew its position in Automatic Data Processing by 26.9% during the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after purchasing an additional 902,354 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADP shares. Morgan Stanley upped their price target on shares of 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. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group cut their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Finally, TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $309.62.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $2.62 during trading on Thursday, hitting $306.85. 322,788 shares of the stock traded hands, compared to its average volume of 1,750,983. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a market cap of $124.56 billion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 2.77 and a beta of 0.76. The company has a fifty day moving average price of $312.19 and a two-hundred day moving average price of $304.33. Automatic Data Processing, Inc. has a 52-week low of $247.98 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current 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.