TIAA Trust National Association Raises Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

TIAA Trust National Association raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,658 shares of the business services provider’s stock after purchasing an additional 1,500 shares during the quarter. TIAA Trust National Association’s holdings in Automatic Data Processing were worth $9,904,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after buying an additional 249,566 shares during the period. Capital Research Global Investors grew its stake in shares of 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 raised its holdings in shares of Automatic Data Processing by 27.7% in the 1st 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 during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Automatic Data Processing by 16.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,124,476 shares of the business services provider’s stock worth $530,567,000 after acquiring an additional 307,156 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of several research reports. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. TD Cowen dropped their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Barclays increased their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ ADP traded down $0.43 during midday trading on Friday, hitting $246.97. 1,424,555 shares of the company’s stock were exchanged, compared to its average volume of 1,656,368. The firm’s fifty day simple moving average is $244.20 and its 200-day simple moving average is $244.48. The company has a market cap of $101.08 billion, a PE ratio of 27.56, a P/E/G ratio of 2.49 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick 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 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.52 earnings per share. Research analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal 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.