Pictet North America Advisors SA Has $11.07 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

by · The Markets Daily

Pictet North America Advisors SA lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 11.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 36,241 shares of the business services provider’s stock after purchasing an additional 3,817 shares during the period. Pictet North America Advisors SA’s holdings in Automatic Data Processing were worth $11,073,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares during the period. Abound Wealth Management increased its position in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing during the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing during the 4th quarter worth $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus boosted their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. UBS Group dropped their target price on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, June 13th. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $307.08.

Get Our Latest Stock Report on ADP

Automatic Data Processing Stock Up 0.6%

Shares of NASDAQ:ADP opened at $310.13 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93. The company has a market capitalization of $125.89 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 3.20 and a beta of 0.76. The company has a fifty day moving average of $311.35 and a 200-day moving average of $303.23.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, June 13th. Automatic Data Processing’s payout ratio 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 Automatic Data Processing stock in a transaction dated 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 directly owned 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

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.

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