GF Fund Management CO. LTD. Has $23.99 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

GF Fund Management CO. LTD. raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,527 shares of the business services provider's stock after buying an additional 1,305 shares during the period. GF Fund Management CO. LTD.'s holdings in Automatic Data Processing were worth $23,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $957,000. Fisher Asset Management LLC increased its holdings in shares of Automatic Data Processing by 19.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,279 shares of the business services provider's stock valued at $667,000 after purchasing an additional 364 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Automatic Data Processing by 68.2% in the fourth quarter. Jones Financial Companies Lllp now owns 9,718 shares of the business services provider's stock valued at $2,845,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in shares of Automatic Data Processing by 8.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 2,248 shares of the business services provider's stock valued at $658,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. UBS Group lowered 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. 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. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Finally, TD Securities lifted 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus target price of $307.08.

Insider Buying and Selling

In related news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Trading Up 1.3%

Shares of ADP stock traded up $3.91 on Friday, hitting $308.96. The stock had a trading volume of 1,393,190 shares, compared to its average volume of 1,714,041. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The firm has a market cap of $125.41 billion, a P/E ratio of 31.62, a PEG ratio of 2.87 and a beta of 0.76. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average price of $312.20 and a two-hundred day moving average price of $303.42.

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 (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the business earned $2.88 EPS. The firm's revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $1.54 dividend. 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 dividend payout ratio (DPR) is 63.05%.

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.