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

Pictet North America Advisors SA increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,241 shares of the business services provider's stock after buying 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.

Other institutional investors have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its stake in shares of Automatic Data Processing by 8.8% in the first quarter. DAVENPORT & Co LLC now owns 71,577 shares of the business services provider's stock worth $21,869,000 after buying an additional 5,815 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Automatic Data Processing by 4.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,074 shares of the business services provider's stock valued at $17,132,000 after purchasing an additional 2,437 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Automatic Data Processing by 453.6% during the first quarter. Vontobel Holding Ltd. now owns 158,790 shares of the business services provider's stock worth $48,515,000 after purchasing an additional 130,106 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its position in shares of Automatic Data Processing by 112.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 3,263 shares of the business services provider's stock worth $958,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Heritage Investment Group Inc. grew its stake in Automatic Data Processing by 19.8% in the first quarter. Heritage Investment Group Inc. now owns 2,588 shares of the business services provider's stock worth $791,000 after purchasing an additional 428 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

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

Automatic Data Processing Price Performance

NASDAQ ADP traded down $5.08 during trading on Wednesday, reaching $305.05. 1,327,759 shares of the company traded hands, compared to its average volume of 1,710,004. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The stock's 50 day moving average price is $311.35 and its two-hundred day moving average price is $303.23. The company has a market cap of $123.83 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 3.20 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion for 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 was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 earnings per share. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $1.54 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

About Automatic Data Processing

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.