State of Alaska Department of Revenue lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 0.4% in the first quarter, Holdings Channel reports. The institutional investor owned 44,565 shares of the business services provider’s stock after acquiring an additional 165 shares during the period. State of Alaska Department of Revenue’s holdings in Automatic Data Processing were worth $11,129,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of ADP. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $35,000. Pineridge Advisors LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $39,000. Raleigh Capital Management Inc. grew its stake in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares in the last quarter. Evolution Advisers Inc. bought a new position in Automatic Data Processing in the 4th quarter valued at about $41,000. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $42,000. Institutional investors own 80.03% of the company’s stock.
Automatic Data Processing Trading Up 0.1 %
Shares of NASDAQ ADP opened at $236.91 on Thursday. The stock has a market cap of $96.96 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. The firm has a 50 day moving average price of $245.37 and a two-hundred day moving average price of $243.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on ADP shares. Barclays boosted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday. TD Cowen lowered their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Mizuho increased their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $255.42.
Check Out Our Latest Report on Automatic Data Processing
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.
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