IFM Investors Pty Ltd Boosts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

IFM Investors Pty Ltd boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,031 shares of the business services provider's stock after buying an additional 7,080 shares during the quarter. IFM Investors Pty Ltd's holdings in Automatic Data Processing were worth $25,063,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ADP. Main Street Group LTD boosted its position in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares during the period. Cyrus J. Lawrence LLC boosted its position in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after purchasing an additional 67 shares during the period. Abound Wealth Management boosted its position in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after purchasing an additional 43 shares during the period. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $1.06 during midday trading on Monday, reaching $308.14. The stock had a trading volume of 392,060 shares, compared to its average volume of 1,795,937. The stock has a 50-day moving average of $312.20 and a 200-day moving average of $303.61. 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 company has a market capitalization of $125.08 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president owned 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Company Profile

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.