Harel Insurance Investments & Financial Services Ltd. grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 53.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,421 shares of the business services provider's stock after purchasing an additional 4,700 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Automatic Data Processing were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Morgan Stanley lifted its holdings in Automatic Data Processing by 7.8% during the 4th quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider's stock worth $2,629,852,000 after buying an additional 794,328 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Automatic Data Processing by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider's stock valued at $2,085,849,000 after purchasing an additional 198,008 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of Automatic Data Processing by 94,265.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider's stock valued at $1,617,256,000 after purchasing an additional 6,763,553 shares during the period. Northern Trust Corp lifted its stake in shares of Automatic Data Processing by 5.1% in the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider's stock valued at $1,420,028,000 after purchasing an additional 288,234 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Automatic Data Processing by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider's stock valued at $1,261,327,000 after purchasing an additional 77,187 shares during the period. 80.03% of the stock is currently owned by institutional investors.
Automatic Data Processing Stock Down 0.2 %
Shares of NASDAQ ADP traded down $0.57 during mid-day trading on Friday, hitting $243.85. The company had a trading volume of 1,226,399 shares, compared to its average volume of 1,983,582. The company has a market capitalization of $100.17 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The firm has a 50-day simple moving average of $247.90 and a two-hundred day simple moving average of $239.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. Automatic Data Processing's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 EPS. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.
Automatic Data Processing Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing's payout ratio is currently 65.19%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on ADP. Mizuho increased their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a "buy" rating in a research note on Monday, March 11th. Bank of America raised Automatic Data Processing from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an "underperform" rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $254.58.
Check Out Our Latest Stock Analysis on ADP
Insider Buying and Selling
In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now owns 17,179 shares of the company's stock, valued at $4,380,645. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,662 shares of company stock worth $4,094,554. Company insiders own 0.26% of the company's stock.
About Automatic Data Processing
(
Free Report)
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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