Automatic Data Processing, Inc. $ADP Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 280.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,279 shares of the business services provider’s stock after purchasing an additional 96,041 shares during the period. Lazard Asset Management LLC’s holdings in Automatic Data Processing were worth $26,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Imprint Wealth LLC acquired a new stake in Automatic Data Processing in the third quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $28,000. Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, July 8th. 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 dropped their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Guggenheim reissued a “buy” rating and set a $270.00 price objective on shares of Automatic Data Processing in a report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Automatic Data Processing from $214.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $256.00.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $264.17 on Wednesday. The stock’s 50-day moving average is $233.13 and its two-hundred day moving average is $224.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $315.98. The firm has a market cap of $105.60 billion, a price-to-earnings ratio of 24.64 and a beta of 0.83.

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

About Automatic Data Processing

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.