New Mexico Educational Retirement Board Sells 400 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

New Mexico Educational Retirement Board decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 19,043 shares of the business services provider’s stock after selling 400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Automatic Data Processing were worth $5,818,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADP. von Borstel & Associates Inc. bought a new stake in Automatic Data Processing in the 1st quarter worth $30,000. Main Street Group LTD lifted its position in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC boosted its stake in Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the period. Abound Wealth Management lifted its stake in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 43 shares during the last quarter. Finally, Banque de Luxembourg S.A. purchased a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP opened at $306.90 on Wednesday. The firm has a fifty day moving average price of $312.72 and a 200 day moving average price of $303.73. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The stock has a market cap of $124.58 billion, a P/E ratio of 31.41, a P/E/G ratio of 2.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the business earned $2.88 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president owned 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley raised their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. 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. Stifel Nicolaus lifted their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Mizuho increased their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $307.08.

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.