Northern Trust Corp Has $1.88 Billion Stake in Automatic Data Processing, Inc. $ADP

Key Points

• Northern Trust Corp reduced its stake in Automatic Data Processing, Inc. by 0.2% during Q1, owning approximately 6.16 million shares valued at about $1.88 billion.
• Automatic Data Processing has a dividend yield of 2.0%, with a quarterly dividend of $1.54 declared to be paid on October 1st.
• Analysts have mixed ratings for ADP, with a consensus rating of "Hold" and an average target price of approximately $314.33.

Northern Trust Corp lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,162,926 shares of the business services provider's stock after selling 11,493 shares during the quarter. Northern Trust Corp owned about 1.52% of Automatic Data Processing worth $1,882,959,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $30,000. 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 last quarter. Y.D. More Investments Ltd bought a new position in Automatic Data Processing in the 1st quarter valued at approximately $35,000. Abound Wealth Management boosted 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 period. Finally, Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADP shares. 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 note on Friday, June 13th. UBS Group reduced their price target 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. Morgan Stanley increased their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $314.33.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $301.79 on Monday. The business has a 50-day simple moving average of $305.74 and a 200 day simple moving average of $305.62. Automatic Data Processing, Inc. has a one year low of $262.21 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $122.24 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 2.77 and a beta of 0.81.

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 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.0%. Automatic Data Processing's dividend payout ratio (DPR) is presently 61.72%.

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.

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