Bayesian Capital Management LP acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 6,883 shares of the business services provider’s stock, valued at approximately $1,719,000.
Other hedge funds also recently added to or reduced their stakes in the company. 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 period. Crewe Advisors LLC acquired a new stake in Automatic Data Processing during the 1st quarter worth approximately $33,000. Pineridge Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $39,000. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $41,000. Finally, Bfsg LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.
Automatic Data Processing Price Performance
NASDAQ ADP traded up $2.48 during mid-day trading on Tuesday, hitting $257.69. The stock had a trading volume of 1,123,176 shares, compared to its average volume of 1,664,564. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a 50 day simple moving average of $244.34 and a 200 day simple moving average of $245.19. The company has a market cap of $105.47 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 2.64 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $258.45.
Wall Street Analysts Forecast Growth
ADP has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. TD Cowen reduced their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Barclays raised their price target on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $253.50.
Check Out Our Latest Stock Analysis on Automatic Data Processing
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.
See Also
- Five stocks we like better than Automatic Data Processing
- What Are Dividend Achievers? An Introduction
- AbbVie Analysts Lead the Stock Higher as Humira Worries Recede
- CD Calculator: Certificate of Deposit Calculator
- Harley-Davidson Stock Revs Up With Billion Dollar Buyback Program
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Cruise Line Stock Sinks Despite Beating EPS and Raised Guidance
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.