Swiss National Bank trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 5.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,110,080 shares of the business services provider’s stock after selling 60,120 shares during the period. Swiss National Bank’s holdings in Automatic Data Processing were worth $285,546,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ADP. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth $25,000. Board of the Pension Protection Fund acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $31,000. Y.D. More Investments Ltd acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth $32,000. High Point Wealth Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $34,000. Finally, AlphaQuest LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth $38,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.
Automatic Data Processing Trading Down 2.3%
NASDAQ:ADP opened at $225.77 on Friday. The business’s 50-day moving average is $212.08 and its two-hundred day moving average is $229.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The firm has a market capitalization of $90.25 billion, a PE ratio of 21.06 and a beta of 0.84.
Automatic Data Processing Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, June 12th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.43%.
Analyst Ratings Changes
A number of research firms have recently commented on ADP. Cantor Fitzgerald dropped their price objective on Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. BMO Capital Markets cut their price objective on Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. Mizuho cut their price objective on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. UBS Group raised their price objective on Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus cut their price objective on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $244.29.
Get Our Latest Stock Analysis on Automatic Data Processing
Insider Buying and Selling at Automatic Data Processing
In other news, VP Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $208.45, for a total transaction of $113,188.35. Following the completion of the sale, the vice president directly owned 8,912 shares in the company, valued at $1,857,706.40. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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