3,018 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by Entropy Technologies LP

Entropy Technologies LP purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,018 shares of the business services provider’s stock, valued at approximately $754,000.

Several other large investors have also recently added to or reduced their stakes in ADP. Norges Bank purchased a new position in Automatic Data Processing during the fourth quarter worth about $308,321,000. International Assets Investment Management LLC increased 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 buying an additional 930,199 shares in the last quarter. Capital Research Global Investors increased 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 buying an additional 649,791 shares in the last quarter. Nordea Investment Management AB increased 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 buying an additional 589,831 shares in the last quarter. Finally, Vanguard Group Inc. increased 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 buying an additional 412,434 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. TD Cowen dropped their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Evercore ISI increased their price target on shares of 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 increased their price target 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. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Trading Up 0.3 %

NASDAQ ADP traded up $0.68 during mid-day trading on Thursday, reaching $249.93. 108,742 shares of the stock were exchanged, compared to its average volume of 1,668,698. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The business’s fifty day simple moving average is $244.16 and its 200 day simple moving average is $244.28. The stock has a market capitalization of $102.29 billion, a PE ratio of 27.82, a PEG ratio of 2.48 and a beta of 0.78. 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 (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. Automatic Data Processing’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $2.52 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal 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.