Automatic Data Processing, Inc. $ADP Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 45.2% in the 1st quarter, HoldingsChannel reports. The firm owned 349,827 shares of the business services provider’s stock after purchasing an additional 108,864 shares during the quarter. Quantinno Capital Management LP’s holdings in Automatic Data Processing were worth $71,078,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Horizon Investments LLC increased its position in Automatic Data Processing by 34.1% during the fourth quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after buying an additional 6,655 shares during the period. Compass Capital Management Inc. lifted its stake in Automatic Data Processing by 3.0% in the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after buying an additional 5,899 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Automatic Data Processing by 27.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,273 shares of the business services provider’s stock valued at $60,262,000 after acquiring an additional 49,774 shares during the period. DNB Asset Management AS boosted its holdings in shares of Automatic Data Processing by 11.1% in the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after acquiring an additional 15,287 shares during the period. Finally, Jefferies Financial Group Inc. grew its position in shares of Automatic Data Processing by 439.2% during the fourth quarter. Jefferies Financial Group Inc. now owns 51,341 shares of the business services provider’s stock worth $13,206,000 after acquiring an additional 41,820 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ADP shares. Jefferies Financial Group cut their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Citigroup lowered their price objective on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. UBS Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Argus reduced their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $256.00.

Automatic Data Processing Trading Up 3.6%

NASDAQ:ADP opened at $264.17 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $315.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $233.13 and its 200-day simple moving average is $224.26. The firm has a market cap of $105.60 billion, a P/E ratio of 24.64 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. Automatic Data Processing’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $3.06 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.