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

FORA Capital LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 22.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,886 shares of the business services provider's stock after buying an additional 10,451 shares during the quarter. Automatic Data Processing makes up approximately 1.2% of FORA Capital LLC's portfolio, making the stock its 12th biggest position. FORA Capital LLC's holdings in Automatic Data Processing were worth $14,207,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Automatic Data Processing during the fourth quarter worth $308,321,000. International Assets Investment Management LLC grew its holdings in Automatic Data Processing by 22,539.4% in the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider's stock valued at $217,670,000 after purchasing an additional 930,199 shares during the last quarter. Capital Research Global Investors grew its holdings in Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider's stock valued at $825,487,000 after purchasing an additional 649,791 shares during the last quarter. Nordea Investment Management AB grew its holdings in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider's stock valued at $678,601,000 after purchasing an additional 589,831 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Automatic Data Processing by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider's stock valued at $9,224,713,000 after purchasing an additional 412,434 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of ADP traded down $2.12 during mid-day trading on Monday, hitting $233.44. The stock had a trading volume of 1,448,771 shares, compared to its average volume of 1,687,714. The company has a market cap of $95.54 billion, a PE ratio of 26.05, a PEG ratio of 2.38 and a beta of 0.78. The company's fifty day simple moving average is $244.63 and its two-hundred day simple moving average is $243.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

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

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. Evercore ISI increased their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an "underperform" rating in a research note on Tuesday, March 26th. Barclays increased their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on Automatic Data Processing from $254.00 to $250.00 and set an "underweight" rating on the stock in a research report on Thursday, May 2nd. Mizuho increased their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a "buy" rating in a research report on Monday, March 11th. Finally, StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average 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.