Victory Capital Management Inc. lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 632,299 shares of the business services provider's stock after acquiring an additional 47,628 shares during the quarter. Victory Capital Management Inc. owned 0.16% of Automatic Data Processing worth $193,186,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. 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 purchasing an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $957,000. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock valued at $1,090,000 after purchasing an additional 1,117 shares during the last quarter. Cibc World Markets Corp lifted its stake in shares of Automatic Data Processing by 14.0% in the 4th quarter. Cibc World Markets Corp now owns 73,361 shares of the business services provider's stock valued at $21,475,000 after purchasing an additional 9,019 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Automatic Data Processing by 4.8% in the 4th quarter. Parallel Advisors LLC now owns 8,988 shares of the business services provider's stock valued at $2,631,000 after purchasing an additional 409 shares during the last quarter. 80.03% of the stock is owned by institutional investors.
Automatic Data Processing Trading Up 0.7%
NASDAQ ADP traded up $2.09 during trading hours on Wednesday, hitting $300.27. The company's stock had a trading volume of 1,525,481 shares, compared to its average volume of 1,709,715. The stock has a fifty day moving average of $312.88 and a 200 day moving average of $304.00. Automatic Data Processing, Inc. has a twelve month low of $244.65 and a twelve month high of $329.93. The firm has a market capitalization of $121.89 billion, a P/E ratio of 30.73, a PEG ratio of 2.78 and a beta of 0.76. 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 (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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 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%. Automatic Data Processing's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 earnings per share. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. 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 research note on Tuesday, June 17th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a research note on Thursday, July 10th. Finally, UBS Group decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $309.62.
Check Out Our Latest Analysis on Automatic Data Processing
Automatic Data Processing Profile
(
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.
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