Automatic Data Procs (NASDAQ:ADP).
Cedar Rock Capital Ltd reports that it lowered its investment in Automatic Data Procs stock by 76,526 shares as reported in a filing on 11/16/2017. Its position was valued at $427,835,000 an increase of 4.6% as of quarter end.
Several firms have updated their holdings. As of quarter end Henderson Group Plc had bought a total of 3,497,616 shares growing its holdings by 5,282.8%. The value of the investment in ADP went from $6,778,000 to $389,597,000 a change of $382,819,000 for the reporting period. As of the end of the quarter Arrowstreet Capital, Limited Partnership had acquired 1,548,882 shares growing its stake by 124.4%. The value of the total investment in Automatic Data Procs increased from $127,574,000 to $305,439,000 increasing 139.4% quarter to quarter.
Schwab Charles Investment Management Inc added to its holdings by buying 60,438 shares an increase of 2.8% from 06/30/2017 to 09/30/2017. Schwab Charles Investment Management Inc claims 2,204,330 shares valued at $240,978,000. The total value of its holdings increased 9.7%.
Royal Bank Of Canada raised the price target of the stock on November 6 changing the forecast from $95.00 to $100.00 and issued a “Sector Perform” recommendation. Equity analyst BMO Capital Markets lowered the price target on November 3 cutting the projection from $122.00 to $114.00 with a rating of “Outperform”.
Equity analyst Sanford C. Bernstein raised the price target on October 31 changing the price objective from $115.00 to $125.00 with a “Outperform” recommendation. Barclays PLC raised the price target on October 26 changing the price objective from $105.00 to $115.00 and issued a “Equal Weight” rating.
Equity analyst Bank of America Corporation raised the price target on October 13 changing the forecast from $111.00 to $114.00 and stated a “Neutral” rating. October 4 investment analysts at Stifel Nicolaus maintained a stock rating of “Hold” projecting a price of $108.00.
The company is unchanged since yesterday’s close of 110.66. The company’s P/E ratio is 28.09 and the market cap is 49.08B. As of the last earnings report the EPS was $3.94 with 443.49M shares presently outstanding.
Traders are more bullish on shares of Automatic Data Procs if you evaluate the decrease in short interest. The stock had a fall in short interest from September 29, 2017 to October 13, 2017 of -12.67%. Short shares decreased from 8,154,474 to 7,120,958 over that timeframe. The short-interest ratio increased to 4.0 and the short interest percentage is 0.02% as of October 13.