Teachers Retirement System of The State of Kentucky Has $8.42 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Teachers Retirement System of The State of Kentucky lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,704 shares of the business services provider’s stock after selling 1,800 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Automatic Data Processing were worth $8,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Keener Financial Planning LLC lifted its position in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth $33,000. Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter worth $39,000. Evolution Advisers Inc. acquired a new position in Automatic Data Processing during the 4th quarter worth $41,000. Finally, Bfsg LLC acquired a new position in Automatic Data Processing during the 4th quarter worth $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several research reports. Barclays boosted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $259.64.

Automatic Data Processing Price Performance

NASDAQ:ADP traded up $2.22 on Friday, reaching $263.52. The stock had a trading volume of 2,310,606 shares, compared to its average volume of 1,644,141. The company has a market capitalization of $107.86 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $269.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $245.11 and a 200-day moving average price of $245.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. Research analysts forecast that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

About Automatic Data Processing

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.