Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by National Pension Service

Key Points

• The National Pension Service increased its position in Automatic Data Processing, Inc. by 9.1% in the first quarter, owning approximately 1,008,413 shares worth $308.1 million.
• Analysts have set a consensus price target of $314.33 for ADP, with multiple firms adjusting their ratings and targets, including Stifel Nicolaus increasing theirs from $305.00 to $318.00.
• ADP reported a quarterly earnings per share (EPS) of $2.26, beating expectations, with revenue of $5.13 billion representing a 6.3% year-over-year increase.

National Pension Service lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,008,413 shares of the business services provider's stock after purchasing an additional 83,924 shares during the quarter. National Pension Service owned about 0.25% of Automatic Data Processing worth $308,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after buying an additional 4,808 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $957,000. SageView Advisory Group LLC raised its stake in shares of Automatic Data Processing by 7.0% during the fourth quarter. SageView Advisory Group LLC now owns 1,122 shares of the business services provider's stock valued at $328,000 after acquiring an additional 73 shares in the last quarter. Mariner LLC boosted its holdings in shares of Automatic Data Processing by 5.8% in the fourth quarter. Mariner LLC now owns 164,486 shares of the business services provider's stock valued at $48,150,000 after purchasing an additional 9,032 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in Automatic Data Processing by 63.0% in the fourth quarter. CreativeOne Wealth LLC now owns 11,370 shares of the business services provider's stock worth $3,328,000 after purchasing an additional 4,394 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Up 0.0%

NASDAQ:ADP traded up $0.11 during trading hours on Friday, hitting $301.79. The company had a trading volume of 1,362,355 shares, compared to its average volume of 1,744,540. Automatic Data Processing, Inc. has a 1 year low of $262.21 and a 1 year high of $329.93. The company has a market cap of $122.24 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.80 and a beta of 0.81. The company has a 50-day moving average of $306.24 and a 200 day moving average of $305.55. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period last year, the business earned $2.09 earnings per share. Automatic Data Processing's revenue was up 6.3% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.0%. Automatic Data Processing's dividend payout ratio is 61.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Morgan Stanley raised their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research report on Thursday, July 10th. Mizuho raised their price target 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. Finally, UBS Group decreased their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $314.33.

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.