IFM Investors Pty Ltd Raises Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

IFM Investors Pty Ltd increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,031 shares of the business services provider's stock after buying an additional 7,080 shares during the period. IFM Investors Pty Ltd's holdings in Automatic Data Processing were worth $25,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADP. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after buying an additional 38 shares during the period. Cyrus J. Lawrence LLC raised its holdings in 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 raised its holdings in 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 during the period. Banque de Luxembourg S.A. purchased a new stake in Automatic Data Processing in the 4th quarter valued at about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Automatic Data Processing in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.3%

Shares of Automatic Data Processing stock traded down $0.80 on Monday, reaching $308.40. 1,635,700 shares of the company were exchanged, compared to its average volume of 1,713,391. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company has a market cap of $125.19 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The stock's 50 day moving average price is $312.20 and its 200-day moving average price is $303.61.

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 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TD Securities boosted their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley lifted their target price on 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. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $307.08.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

Automatic Data Processing 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.