Swiss National Bank Cuts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Swiss National Bank reduced its holdings in Automatic Data Processing by 0.3%, now owning 1.15 million shares worth approximately $351 million.
• The stock has a current average rating of "Hold", with a consensus price target of $314.33 according to brokerages.
• Automatic Data Processing recently declared a quarterly dividend of $1.54, with an ex-dividend date of September 12th, representing a 2.0% yield.

Swiss National Bank decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,149,100 shares of the business services provider's stock after selling 3,000 shares during the period. Swiss National Bank owned 0.28% of Automatic Data Processing worth $351,085,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. von Borstel & Associates Inc. purchased a new position in Automatic Data Processing during the 1st quarter worth approximately $30,000. Main Street Group LTD raised its position 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 during the last quarter. Y.D. More Investments Ltd purchased a new position in Automatic Data Processing during the 1st quarter worth approximately $35,000. Abound Wealth Management raised its position in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after buying an additional 43 shares during the last quarter. Finally, Banque de Luxembourg S.A. purchased a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Up 0.8%

NASDAQ:ADP traded up $2.32 on Friday, reaching $305.81. 879,374 shares of the company's stock were exchanged, compared to its average volume of 1,494,130. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $123.87 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 2.80 and a beta of 0.81. The business has a fifty day moving average of $308.13 and a 200-day moving average of $305.47. Automatic Data Processing, Inc. has a 52-week low of $258.63 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's dividend payout ratio is presently 61.72%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADP. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. TD Securities upped 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. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a report on Thursday, July 10th. UBS Group dropped their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set 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, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $314.33.

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.