Robeco Institutional Asset Management B.V. Acquires 61,123 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Robeco Institutional Asset Management B.V. grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 21.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 340,450 shares of the business services provider's stock after purchasing an additional 61,123 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.08% of Automatic Data Processing worth $104,018,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Brighton Jones LLC raised 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 buying an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of Automatic Data Processing in the fourth quarter valued at about $957,000. Illinois Municipal Retirement Fund raised its holdings in shares of Automatic Data Processing by 44.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 17,176 shares of the business services provider's stock valued at $5,028,000 after buying an additional 5,299 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Automatic Data Processing by 2.0% in the fourth quarter. Lake Street Advisors Group LLC now owns 10,498 shares of the business services provider's stock valued at $3,089,000 after buying an additional 210 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Automatic Data Processing by 22.4% in the fourth quarter. National Pension Service now owns 924,489 shares of the business services provider's stock valued at $270,626,000 after buying an additional 168,972 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insiders Place Their Bets

In other 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 transaction of $140,120.92. Following the sale, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $307.08.

Automatic Data Processing Stock Up 0.2%

NASDAQ:ADP traded up $0.47 during trading hours on Friday, reaching $303.45. 1,931,112 shares of the stock were exchanged, compared to its average volume of 1,714,766. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. 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 firm has a 50 day moving average of $310.33 and a 200 day moving average of $303.05. The stock has a market cap of $123.18 billion, a PE ratio of 31.06, a PEG ratio of 3.14 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share 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 firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the firm posted $2.88 EPS. The business's revenue was up 5.7% on a year-over-year basis. On average, equities 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 Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is currently 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.