Board of the Pension Protection Fund Has $581,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

by · The Markets Daily

Board of the Pension Protection Fund trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 47.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,900 shares of the business services provider’s stock after selling 1,700 shares during the quarter. Board of the Pension Protection Fund’s holdings in Automatic Data Processing were worth $581,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ADP. GAMMA Investing LLC grew its holdings in shares of Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after buying an additional 2,892,660 shares in the last quarter. Norges Bank acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $396,714,000. Capital Research Global Investors raised its holdings in shares of Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $342,942,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. TD Securities increased their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Morgan Stanley upped their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. Finally, Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $307.08.

Get Our Latest Research Report on ADP

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $302.98 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $122.99 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.09 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The stock has a 50 day moving average of $310.33 and a 200-day moving average of $303.05.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.88 earnings per share. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.05%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Company Profile

(Free Report)

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.

Featured Stories

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).