Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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. owned approximately 0.26% of Automatic Data Processing worth $265,757,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nvest Financial LLC purchased a new stake in Automatic Data Processing during the first quarter valued at approximately $228,000. West Oak Capital LLC increased its holdings in Automatic Data Processing by 0.6% in the 1st quarter. West Oak Capital LLC now owns 15,900 shares of the business services provider’s stock worth $3,971,000 after acquiring an additional 100 shares in the last quarter. Buffington Mohr McNeal raised its stake in Automatic Data Processing by 12.5% during the 1st quarter. Buffington Mohr McNeal now owns 2,704 shares of the business services provider’s stock worth $675,000 after acquiring an additional 300 shares during the period. Dash Acquisitions Inc. lifted its holdings in Automatic Data Processing by 4.4% during the first quarter. Dash Acquisitions Inc. now owns 44,725 shares of the business services provider’s stock valued at $10,864,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Applied Capital LLC FL boosted its position in shares of Automatic Data Processing by 2.9% in the first quarter. Applied Capital LLC FL now owns 4,827 shares of the business services provider’s stock worth $1,205,000 after purchasing an additional 138 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Barclays lifted 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 shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TD Cowen decreased their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Trading Up 0.1 %

ADP stock opened at $236.91 on Thursday. The firm’s fifty day simple moving average is $245.37 and its two-hundred day simple moving average is $243.88. The stock has a market capitalization of $96.96 billion, a price-to-earnings 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 twelve month low of $205.53 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the company posted $2.52 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current 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.