Vanguard Group Inc. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,949,884 shares of the business services provider's stock after purchasing an additional 218,614 shares during the period. Vanguard Group Inc. owned approximately 10.09% of Automatic Data Processing worth $12,511,418,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of 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 buying an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Automatic Data Processing in the 4th quarter worth about $957,000. FMR LLC increased its holdings in Automatic Data Processing by 0.6% in the 4th quarter. FMR LLC now owns 1,268,211 shares of the business services provider's stock worth $371,243,000 after purchasing an additional 7,082 shares in the last quarter. Rathbones Group PLC increased its holdings in Automatic Data Processing by 2.2% in the 4th quarter. Rathbones Group PLC now owns 2,306 shares of the business services provider's stock worth $675,000 after purchasing an additional 50 shares in the last quarter. Finally, Shelton Capital Management increased its holdings in Automatic Data Processing by 24.4% in the 4th quarter. Shelton Capital Management now owns 64,467 shares of the business services provider's stock worth $18,871,000 after purchasing an additional 12,661 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ADP shares. 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. Morgan Stanley upped their target price on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a report on Thursday, July 10th. TD Securities upped their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, UBS Group lowered their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $314.33.
Read Our Latest Stock Analysis on Automatic Data Processing
Automatic Data Processing Stock Performance
NASDAQ ADP opened at $299.44 on Wednesday. The company has a fifty day simple moving average of $309.38 and a 200 day simple moving average of $305.33. Automatic Data Processing, Inc. has a 12-month low of $256.47 and a 12-month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $121.55 billion, a P/E ratio of 30.00, a PEG ratio of 2.77 and a beta of 0.81.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.
Automatic Data Processing Company Profile
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Free Report)
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.
See Also
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