Twin Capital Management Inc. Has $2.39 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Twin Capital Management Inc. boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 49.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,808 shares of the business services provider's stock after buying an additional 2,583 shares during the quarter. Twin Capital Management Inc.'s holdings in Automatic Data Processing were worth $2,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ADP. Brighton Jones LLC grew its position in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $957,000. HUB Investment Partners LLC raised its stake in shares of Automatic Data Processing by 6.4% in the fourth quarter. HUB Investment Partners LLC now owns 1,389 shares of the business services provider's stock worth $407,000 after purchasing an additional 83 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Automatic Data Processing during the fourth quarter valued at $636,000. Finally, Millstone Evans Group LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at $1,032,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $301.79 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $122.50 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 2.76 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $245.80 and a 1-year high of $329.93. The firm's 50-day moving average price is $312.56 and its two-hundred day moving average price is $304.18.

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, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period last year, the business posted $2.88 earnings per share. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADP has been the subject of a number of research reports. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research note on Thursday, July 10th. Morgan Stanley lifted their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Mizuho boosted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. TD Securities lifted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $309.62.

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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