GAMMA Investing LLC Acquires 3,081 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

GAMMA Investing LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 105.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,003 shares of the business services provider’s stock after acquiring an additional 3,081 shares during the quarter. GAMMA Investing LLC’s holdings in Automatic Data Processing were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after acquiring an additional 173,298 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Automatic Data Processing by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares during the period. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after purchasing an additional 81,869 shares during the period. Nordea Investment Management AB boosted its holdings in shares of 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 worth $678,601,000 after purchasing an additional 589,831 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Automatic Data Processing by 16.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,124,476 shares of the business services provider’s stock worth $530,567,000 after purchasing an additional 307,156 shares during the period. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADP shares. TD Cowen dropped their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Barclays lifted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $259.64.

Automatic Data Processing Stock Up 0.8 %

NASDAQ ADP traded up $2.22 on Friday, reaching $263.52. 2,310,606 shares of the stock traded hands, compared to its average volume of 1,644,141. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average price of $245.11 and a 200-day moving average price of $245.92. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $269.49.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 10.01 EPS for the current fiscal year.

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.