Fulton Bank N.A. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,331 shares of the business services provider’s stock after purchasing an additional 276 shares during the quarter. Fulton Bank N.A.’s holdings in Automatic Data Processing were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlueSpruce Investments LP purchased a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $365,757,000. Norges Bank bought a new position in shares of Automatic Data Processing in the fourth quarter worth $308,321,000. Capital Research Global Investors boosted its stake in Automatic Data Processing by 22.5% during 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 during the period. Nordea Investment Management AB boosted its stake in Automatic Data Processing by 27.7% during the first 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, Jacobs Levy Equity Management Inc. boosted its stake in Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after buying an additional 552,096 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.
Automatic Data Processing Trading Up 0.4 %
Automatic Data Processing stock traded up $0.92 during midday trading on Wednesday, reaching $260.39. The stock had a trading volume of 869,244 shares, compared to its average volume of 1,686,243. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $269.49. The firm has a market cap of $106.58 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company has a fifty day moving average of $245.62 and a 200 day moving average of $246.22.
Analysts Set New Price Targets
ADP has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. JPMorgan Chase & Co. reduced their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $262.18.
Read Our Latest Research Report on Automatic Data Processing
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.
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