APG Asset Management N.V. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 509,291 shares of the business services provider’s stock after selling 23,437 shares during the period. APG Asset Management N.V.’s holdings in Automatic Data Processing were worth $85,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in ADP. Paragon Wealth Strategies LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth $26,000. Lake Point Wealth Management acquired a new stake in shares of Automatic Data Processing during the second quarter worth $27,000. Financial Insights Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter worth $30,000. Disciplined Investments LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth $31,000. Finally, Annapolis Financial Services LLC lifted its holdings in shares of Automatic Data Processing by 232.0% during the second quarter. Annapolis Financial Services LLC now owns 166 shares of the business services provider’s stock worth $33,000 after buying an additional 116 shares in the last quarter. 78.39% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ADP opened at $205.19 on Thursday. The stock has a market cap of $86.74 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average is $205.96 and its 200-day moving average is $200.17. Automatic Data Processing, Inc. has a 1-year low of $144.59 and a 1-year high of $217.15.
The company also recently declared a quarterly dividend, which was paid on Friday, October 1st. Stockholders of record on Friday, September 10th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Thursday, September 9th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.79%.
A number of research firms have recently weighed in on ADP. Jefferies Financial Group lifted their target price on Automatic Data Processing from $200.00 to $215.00 and gave the stock a “hold” rating in a report on Wednesday, July 28th. Citigroup downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $212.00 to $220.00 in a report on Tuesday, August 10th. JPMorgan Chase & Co. downgraded Automatic Data Processing from a “neutral” rating to an “underweight” rating and set a $224.00 target price for the company. in a report on Tuesday, August 17th. They noted that the move was a valuation call. Credit Suisse Group cut Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $215.00 price target on the stock. in a research report on Monday, August 16th. They noted that the move was a valuation call. Finally, Morgan Stanley raised their price target on Automatic Data Processing from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $205.50.
In other news, VP Alexander Quevedo sold 950 shares of the business’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $209.25, for a total transaction of $198,787.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.
About Automatic Data Processing
Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.
Featured Article: What is the Quick Ratio?
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.