Board of the Pension Protection Fund Has $581,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Board of the Pension Protection Fund cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 47.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,900 shares of the business services provider’s stock after selling 1,700 shares during the period. Board of the Pension Protection Fund’s holdings in Automatic Data Processing were worth $581,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Main Street Group LTD boosted its position in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after buying an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 67 shares during the last quarter. Abound Wealth Management boosted its holdings in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $302.98 on Friday. The company has a market cap of $122.99 billion, a PE ratio of 31.01, a PEG ratio of 3.09 and a beta of 0.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company’s 50-day moving average is $310.33 and its two-hundred day moving average is $303.05.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the business posted $2.88 earnings per share. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.05%.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ADP. Stifel Nicolaus lifted their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group cut their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, June 13th. Morgan Stanley upped their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Mizuho boosted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $307.08.

Automatic Data Processing Company 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.