Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 47.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,944 shares of the business services provider's stock after buying an additional 71,703 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Automatic Data Processing worth $52,172,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth approximately $25,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $31,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $33,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $35,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company's stock, valued at $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Don Mcguire sold 11,333 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Kwon sold 863 shares of the firm's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company's stock, valued at $2,071,250. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 over the last three months. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADP. Mizuho upped their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a "buy" rating in a report on Monday, March 11th. Bank of America upgraded Automatic Data Processing from an "underperform" rating to a "neutral" rating and increased their target price for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Evercore ISI increased their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an "underperform" rating in a report on Tuesday, March 26th. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $254.58.

Automatic Data Processing Trading Down 0.5 %

Shares of ADP traded down $1.31 during trading hours on Wednesday, hitting $242.90. The stock had a trading volume of 1,126,134 shares, compared to its average volume of 1,824,087. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $99.78 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.78. The company's fifty day simple moving average is $247.54 and its 200 day simple moving average is $239.18. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing's dividend payout ratio (DPR) is presently 65.19%.

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.