Mount Lucas Management LP Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mount Lucas Management LP bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 5,480 shares of the business services provider's stock, valued at approximately $1,674,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sentinus LLC grew its stake in shares of Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC boosted its position in shares of Automatic Data Processing by 2.4% in the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock valued at $478,000 after purchasing an additional 37 shares during the period. Main Street Group LTD boosted its position in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares during the period. Finally, Howard Financial Services LTD. boosted its position in shares of Automatic Data Processing by 2.2% in the 1st quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock valued at $530,000 after purchasing an additional 38 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a report on Thursday, July 10th. TD Securities raised their price objective 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. Stifel Nicolaus raised their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Mizuho raised their price objective 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 analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $309.62.

Automatic Data Processing Trading Up 0.7%

NASDAQ ADP opened at $302.98 on Wednesday. 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, Inc. has a twelve month low of $245.80 and a twelve month high of $329.93. The company has a market cap of $122.99 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 2.76 and a beta of 0.76. The business's fifty day moving average is $312.56 and its 200 day moving average is $304.28.

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 the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.88 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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.

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