Retirement Systems of Alabama Has $58.98 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Retirement Systems of Alabama boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,164 shares of the business services provider’s stock after buying an additional 4,210 shares during the period. Retirement Systems of Alabama owned approximately 0.06% of Automatic Data Processing worth $58,980,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ADP. Exchange Traded Concepts LLC raised its holdings in Automatic Data Processing by 10,832.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,061 shares of the business services provider’s stock worth $736,000 after purchasing an additional 3,033 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in Automatic Data Processing by 3.6% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,584 shares of the business services provider’s stock worth $1,103,000 after purchasing an additional 158 shares during the period. Evanson Asset Management LLC acquired a new stake in Automatic Data Processing in the third quarter worth $205,000. Country Club Bank GFN raised its holdings in shares of Automatic Data Processing by 3.7% during the third quarter. Country Club Bank GFN now owns 5,969 shares of the business services provider’s stock worth $1,452,000 after acquiring an additional 215 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Automatic Data Processing by 2.0% during the third quarter. Valeo Financial Advisors LLC now owns 7,177 shares of the business services provider’s stock worth $1,727,000 after acquiring an additional 144 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADP shares. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, Mizuho raised their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. 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 stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $258.36.

Automatic Data Processing Stock Down 1.3 %

Automatic Data Processing stock traded down $3.27 during mid-day trading on Friday, reaching $243.07. The company’s stock had a trading volume of 1,555,489 shares, compared to its average volume of 1,384,926. The company has a market capitalization of $99.85 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The business’s 50 day simple moving average is $246.70 and its 200 day simple moving average is $239.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the firm posted $1.96 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Insider Activity

In other news, VP David Kwon sold 863 shares of Automatic Data Processing 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 completion of the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 in the last quarter. Company insiders own 0.26% of the company’s stock.

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.