AIA Group Ltd Has $33.62 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

AIA Group Ltd grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 23.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,292 shares of the business services provider's stock after purchasing an additional 27,664 shares during the quarter. Automatic Data Processing makes up 1.4% of AIA Group Ltd's investment portfolio, making the stock its 16th largest position. AIA Group Ltd's holdings in Automatic Data Processing were worth $33,616,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ADP. Sei Investments Co. raised its holdings in Automatic Data Processing by 19.3% during the first quarter. Sei Investments Co. now owns 134,223 shares of the business services provider's stock worth $30,532,000 after purchasing an additional 21,671 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Automatic Data Processing during the first quarter worth approximately $571,000. Zions Bancorporation N.A. increased its holdings in shares of Automatic Data Processing by 12.4% in the 1st quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider's stock valued at $103,000 after acquiring an additional 50 shares during the period. Covestor Ltd raised its position in Automatic Data Processing by 82.8% in the 1st quarter. Covestor Ltd now owns 636 shares of the business services provider's stock valued at $145,000 after purchasing an additional 288 shares during the last quarter. Finally, Merit Financial Group LLC raised its position in Automatic Data Processing by 4.4% in the 1st quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider's stock valued at $660,000 after purchasing an additional 121 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now owns 17,179 shares of the company's stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,162 shares of company stock valued at $3,741,859. Insiders own 0.26% of the company's stock.

Automatic Data Processing Price Performance

ADP stock traded down $0.91 during trading on Thursday, reaching $241.99. 1,454,207 shares of the company were exchanged, compared to its average volume of 1,819,155. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-week high of $256.84. 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 company has a market cap of $99.41 billion, a P/E ratio of 28.17, a PEG ratio of 2.29 and a beta of 0.78. The stock's 50 day moving average price is $247.36 and its 200 day moving average price is $239.20.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS 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 company's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.96 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently issued reports on ADP. Mizuho boosted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a "buy" rating in a research report on Monday, March 11th. Bank of America upgraded Automatic Data Processing from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an "underperform" rating in a research report on Tuesday, March 26th. Finally, Wolfe Research upgraded shares of Automatic Data Processing from an "underperform" rating to a "peer perform" rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $254.58.

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.