Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 583.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,839 shares of the business services provider’s stock after acquiring an additional 57,054 shares during the period. Los Angeles Capital Management LLC’s holdings in Automatic Data Processing were worth $20,421,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new stake in shares of Automatic Data Processing during the first quarter worth about $30,000. Main Street Group LTD grew its stake in Automatic Data Processing by 50.7% during the 4th 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. Abound Wealth Management grew its stake in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. Banque de Luxembourg S.A. purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $301.79 on Monday. The firm’s 50 day moving average price is $312.56 and its 200-day moving average price is $304.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a one year low of $245.80 and a one year high of $329.93. The firm has a market cap of $122.50 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.76 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS 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 firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the business posted $2.88 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. UBS Group dropped their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. Morgan Stanley increased their price target 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. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.