Teacher Retirement System of Texas raised its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 104,317 shares of the business services provider’s stock after purchasing an additional 1,950 shares during the period. Teacher Retirement System of Texas’ holdings in Automatic Data Processing were worth $17,247,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADP. Comerica Securities Inc. lifted its stake in Automatic Data Processing by 411.2% in the 4th quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock valued at $5,611,000 after buying an additional 34,216 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Automatic Data Processing by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock worth $170,354,000 after purchasing an additional 49,730 shares during the period. Geode Capital Management LLC lifted its stake in shares of Automatic Data Processing by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after purchasing an additional 496,843 shares during the period. Brinker Capital Inc. lifted its stake in shares of Automatic Data Processing by 6.7% during the 1st quarter. Brinker Capital Inc. now owns 45,397 shares of the business services provider’s stock worth $7,259,000 after purchasing an additional 2,861 shares during the period. Finally, Spearhead Capital Advisors LLC lifted its stake in shares of Automatic Data Processing by 2.6% during the 1st quarter. Spearhead Capital Advisors LLC now owns 46,605 shares of the business services provider’s stock worth $7,445,000 after purchasing an additional 1,192 shares during the period. 79.96% of the stock is owned by institutional investors.

ADP has been the topic of a number of recent analyst reports. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Barclays increased their price target on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Sanford C. Bernstein lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Morgan Stanley increased their price target on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, Robert W. Baird increased their price target on Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and an average price target of $174.00.

Shares of ADP stock traded up $0.36 on Friday, reaching $169.89. 144,524 shares of the stock were exchanged, compared to its average volume of 2,126,744. The stock has a market cap of $72.85 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 2.10 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $166.28 and a two-hundred day moving average of $160.53. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. On average, equities research analysts predict that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.86%. Automatic Data Processing’s payout ratio is 57.98%.

In other news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the sale, the vice president now directly owns 14,896 shares in the company, valued at approximately $2,413,747.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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