Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the 1st quarter, Holdings Channel reports. The fund owned 1,064,136 shares of the business services provider’s stock after buying an additional 6,426 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Automatic Data Processing were worth $265,757,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Heritage Investment Group Inc. lifted its position in Automatic Data Processing by 1.9% in the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after buying an additional 41 shares during the last quarter. Bedel Financial Consulting Inc. raised its stake in Automatic Data Processing by 0.8% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after buying an additional 42 shares in the last quarter. Argus Investors Counsel Inc. lifted its holdings in Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after buying an additional 43 shares during the period. Morningstar Investment Management LLC boosted its position in Automatic Data Processing by 1.7% during the 4th quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock valued at $634,000 after acquiring an additional 46 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its holdings in shares of Automatic Data Processing by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after acquiring an additional 47 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Evercore ISI upped their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. 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. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Stock Up 0.1 %

NASDAQ ADP opened at $236.91 on Thursday. The stock’s 50-day moving average price is $245.37 and its 200-day moving average price is $243.88. The company has a market capitalization of $96.96 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. 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 52 week low of $205.53 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.52 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

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.