Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,181 shares of the business services provider’s stock after purchasing an additional 111 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Automatic Data Processing were worth $22,522,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Automatic Data Processing during the 4th quarter worth $308,321,000. International Assets Investment Management LLC boosted its position in Automatic Data Processing by 22,539.4% in the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after buying an additional 930,199 shares during the last quarter. Capital Research Global Investors boosted its position in Automatic Data Processing by 22.5% in the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after buying an additional 649,791 shares during the last quarter. Nordea Investment Management AB boosted its position in Automatic Data Processing by 27.7% in the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after buying an additional 589,831 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Automatic Data Processing by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock valued at $9,224,713,000 after buying an additional 412,434 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP traded up $3.85 during trading on Wednesday, hitting $249.67. The stock had a trading volume of 795,034 shares, compared to its average volume of 1,672,066. The firm has a market cap of $102.19 billion, a PE ratio of 27.90, a P/E/G ratio of 2.45 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a 50 day simple moving average of $244.03 and a 200-day simple moving average of $244.25.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the firm posted $2.52 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI increased their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $255.42.

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.