IFM Investors Pty Ltd raised its position in Automatic Data Processing (NASDAQ:ADP) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,414 shares of the business services provider’s stock after purchasing an additional 3,562 shares during the quarter. IFM Investors Pty Ltd’s holdings in Automatic Data Processing were worth $4,940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Public Employees Retirement Association of Colorado raised its stake in shares of Automatic Data Processing by 3.7% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 82,291 shares of the business services provider’s stock valued at $11,248,000 after purchasing an additional 2,910 shares during the period. APG Asset Management N.V. raised its stake in shares of Automatic Data Processing by 97.0% in the 1st quarter. APG Asset Management N.V. now owns 588,720 shares of the business services provider’s stock valued at $80,466,000 after purchasing an additional 289,810 shares during the period. CWA Asset Management Group LLC raised its stake in shares of Automatic Data Processing by 12.6% in the 1st quarter. CWA Asset Management Group LLC now owns 1,887 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 211 shares during the period. CIBC World Markets Inc. raised its stake in shares of Automatic Data Processing by 38.8% in the 1st quarter. CIBC World Markets Inc. now owns 32,277 shares of the business services provider’s stock valued at $4,412,000 after purchasing an additional 9,019 shares during the period. Finally, Morgan Stanley raised its stake in shares of Automatic Data Processing by 6.5% in the 1st quarter. Morgan Stanley now owns 11,440,067 shares of the business services provider’s stock valued at $1,563,628,000 after purchasing an additional 702,522 shares during the period. 78.77% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing stock traded up $1.03 during midday trading on Friday, reaching $148.42. 1,146,075 shares of the company’s stock were exchanged, compared to its average volume of 2,391,106. The stock’s 50-day simple moving average is $139.06 and its 200 day simple moving average is $141.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $63.80 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 2.51 and a beta of 0.76. Automatic Data Processing has a 52 week low of $103.11 and a 52 week high of $182.32.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.18. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. Automatic Data Processing had a net margin of 16.91% and a return on equity of 46.66%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. Research analysts forecast that Automatic Data Processing will post 5.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were given a dividend of $0.91 per share. The ex-dividend date was Thursday, September 10th. This represents a $3.64 annualized dividend and a yield of 2.45%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.49%.

In other news, CEO Carlos A. Rodriguez sold 52,229 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $136.85, for a total value of $7,147,538.65. Following the completion of the sale, the chief executive officer now directly owns 116,284 shares in the company, valued at $15,913,465.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 250 shares of Automatic Data Processing stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $148.00, for a total transaction of $37,000.00. Following the completion of the sale, the vice president now owns 6,112 shares of the company’s stock, valued at $904,576. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Several equities analysts have recently weighed in on the company. Citigroup decreased their price objective on Automatic Data Processing from $148.00 to $144.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Wolfe Research cut Automatic Data Processing from a “market perform” rating to an “underperform” rating in a report on Thursday, July 30th. Goldman Sachs Group assumed coverage on Automatic Data Processing in a report on Tuesday, July 14th. They issued a “sell” rating and a $146.00 price objective for the company. Cowen cut Automatic Data Processing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $150.00 to $143.00 in a report on Monday, September 21st. Finally, Stifel Nicolaus decreased their price objective on Automatic Data Processing from $155.00 to $142.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $155.67.

Automatic Data Processing Profile

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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