2,515 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Donoghue Forlines LLC

Donoghue Forlines LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,515 shares of the business services provider’s stock, valued at approximately $628,000.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Automatic Data Processing in the fourth quarter valued at $308,321,000. International Assets Investment Management LLC boosted 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 acquiring an additional 930,199 shares in the last quarter. Capital Research Global Investors boosted 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 acquiring an additional 649,791 shares in the last quarter. Nordea Investment Management AB boosted 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 acquiring an additional 589,831 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 acquiring an additional 412,434 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.8 %

Automatic Data Processing stock traded up $1.86 during mid-day trading on Tuesday, reaching $244.50. The stock had a trading volume of 308,917 shares, compared to its average volume of 1,671,571. The company has a market capitalization of $100.07 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.40 and a beta of 0.78. The company has a 50-day moving average price of $244.01 and a two-hundred day moving average price of $244.16. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) 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 analysts’ consensus estimates 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 company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $2.52 EPS. Automatic Data Processing’s revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADP has been the topic of several recent analyst reports. TD Cowen cut 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 report on Thursday, May 2nd. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing 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.