Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,938 shares of the business services provider’s stock after selling 19,740 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Automatic Data Processing were worth $29,051,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Coston McIsaac & Partners lifted its stake in shares of Automatic Data Processing by 13.2% during the 3rd quarter. Coston McIsaac & Partners now owns 335 shares of the business services provider’s stock worth $98,000 after purchasing an additional 39 shares during the last quarter. Northcape Wealth Management LLC increased its holdings in shares of Automatic Data Processing by 0.6% in the fourth quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider’s stock valued at $1,692,000 after purchasing an additional 39 shares during the period. Private Advisory Group LLC increased its holdings in shares of Automatic Data Processing by 4.8% in the third quarter. Private Advisory Group LLC now owns 867 shares of the business services provider’s stock valued at $254,000 after purchasing an additional 40 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Automatic Data Processing by 0.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 15,179 shares of the business services provider’s stock valued at $4,455,000 after purchasing an additional 41 shares during the period. Finally, Rathbones Group PLC increased its holdings in shares of Automatic Data Processing by 1.1% in the fourth quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider’s stock valued at $1,036,000 after purchasing an additional 42 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.
Automatic Data Processing Price Performance
Shares of NASDAQ ADP opened at $231.95 on Friday. The stock’s 50-day moving average is $210.02 and its two-hundred day moving average is $230.12. The company has a market cap of $92.72 billion, a price-to-earnings ratio of 21.64 and a beta of 0.84. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $329.93. 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.80 annualized dividend and a yield of 2.9%. Automatic Data Processing’s dividend payout ratio is currently 63.43%.
Analysts Set New Price Targets
Several research firms recently commented on ADP. Jefferies Financial Group dropped their target price on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Argus decreased their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Guggenheim initiated coverage on Automatic Data Processing in a research report on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price on the stock. Mizuho reduced their price objective on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Finally, BMO Capital Markets decreased their target price on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $244.29.
View Our Latest Analysis on Automatic Data Processing
Insider Activity
In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $208.45, for a total transaction of $113,188.35. Following the sale, the vice president owned 8,912 shares in the company, valued at approximately $1,857,706.40. This represents a 5.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.
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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