Bayesian Capital Management LP Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bayesian Capital Management LP bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,883 shares of the business services provider’s stock, valued at approximately $1,719,000.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its position in Automatic Data Processing by 14.2% in the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after purchasing an additional 99,515 shares during the period. SG Americas Securities LLC lifted its position in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at $2,924,000. Everence Capital Management Inc. lifted its position in shares of Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Finally, LVW Advisors LLC lifted its position in shares of Automatic Data Processing by 23.8% during the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 740 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADP shares. 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. cut their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. TD Cowen cut their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $253.50.

Automatic Data Processing Stock Up 1.0 %

Shares of NASDAQ ADP traded up $2.48 during mid-day trading on Tuesday, reaching $257.69. The company had a trading volume of 1,123,176 shares, compared to its average volume of 1,664,564. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $258.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $105.47 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.64 and a beta of 0.78. The stock’s 50 day moving average is $244.34 and its 200-day moving average is $245.19.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business posted $2.52 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal 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.