Teachers Retirement System of The State of Kentucky Raises Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Teachers Retirement System of The State of Kentucky lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,484 shares of the business services provider's stock after purchasing an additional 1,297 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Automatic Data Processing were worth $9,619,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after purchasing an additional 2,892,660 shares during the last quarter. Norges Bank purchased a new position in Automatic Data Processing in the fourth quarter valued at $455,993,000. Winslow Capital Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at $396,714,000. Capital Research Global Investors raised its stake in Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings 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 worth $1,807,438,000 after buying an additional 902,354 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $301.79 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $122.50 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.76 and a beta of 0.76. The firm's fifty day moving average price is $312.56 and its 200 day moving average price is $304.28. Automatic Data Processing, Inc. has a 1-year low of $245.80 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion for 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 revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.88 earnings per share. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADP. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley upped their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Royal Bank Of Canada reiterated 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. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Finally, UBS Group dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $309.62.

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.

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