Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Trimmed by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,600 shares of the business services provider’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Automatic Data Processing were worth $15,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sentinus LLC increased its holdings in Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after buying an additional 35 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after buying an additional 36 shares during the last quarter. Detalus Advisors LLC increased its holdings in Automatic Data Processing by 2.4% in the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider’s stock valued at $478,000 after buying an additional 37 shares during the last quarter. Main Street Group LTD increased its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after buying an additional 38 shares during the last quarter. Finally, Howard Financial Services LTD. grew its holdings in shares of Automatic Data Processing by 2.2% during the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider’s stock valued at $530,000 after purchasing an additional 38 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ADP shares. Mizuho upped their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. TD Securities upped their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a report on Thursday. Finally, Morgan Stanley upped their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $309.62.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $302.65 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $313.00 and a 200-day simple moving average of $303.94. The company has a market cap of $122.85 billion, a PE ratio of 30.98, a P/E/G ratio of 2.77 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $238.19 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.88 earnings per share. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

About Automatic Data Processing

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.