Triglav Skladi D.O.O. Takes $1.19 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Triglav Skladi D.O.O. acquired a new stake in Automatic Data Processing, Inc. by purchasing 3,900 shares valued at approximately $1.19 million.
• Several analysts have raised their price targets for Automatic Data Processing, with Mizuho increasing theirs from $321 to $332 and BMO Capital Markets setting a target of $340.
• Automatic Data Processing announced a quarterly dividend of $1.54 per share, with a dividend yield of 2.1% and a payout ratio of 61.72%.

Triglav Skladi D.O.O. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,900 shares of the business services provider's stock, valued at approximately $1,192,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in 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 worth $2,935,000 after acquiring an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at $957,000. SageView Advisory Group LLC raised its stake in shares of Automatic Data Processing by 7.0% in the fourth quarter. SageView Advisory Group LLC now owns 1,122 shares of the business services provider's stock valued at $328,000 after buying an additional 73 shares during the period. Mariner LLC grew its position 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 in the last quarter. Finally, CreativeOne Wealth LLC grew its position in shares of 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 valued at $3,328,000 after purchasing an additional 4,394 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Up 0.0%

Shares of Automatic Data Processing stock traded up $0.11 on Friday, hitting $301.79. 1,362,355 shares of the company traded hands, compared to its average volume of 1,535,148. The stock's 50 day moving average price is $305.74 and its 200-day moving average price is $305.57. 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, Inc. has a 52 week low of $262.21 and a 52 week high of $329.93. The company has a market cap of $122.24 billion, a PE 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 issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates 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 company 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 firm posted $2.09 earnings per share. Automatic Data Processing's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS 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. Shareholders of record on Friday, September 12th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's payout ratio is currently 61.72%.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Mizuho upped 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. Stifel Nicolaus boosted their target price on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note 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. Finally, UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. One equities research 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. Based on data from MarketBeat, the company 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.