Strs Ohio decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,454 shares of the business services provider’s stock after selling 6,287 shares during the quarter. Strs Ohio’s holdings in Automatic Data Processing were worth $23,661,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Automatic Data Processing by 6,493.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after buying an additional 3,415,576 shares in the last quarter. Cardano Risk Management B.V. grew its stake in Automatic Data Processing by 950.1% during the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after acquiring an additional 3,223,855 shares in the last quarter. Norges Bank acquired a new stake in Automatic Data Processing in the 4th quarter valued at about $721,738,000. Wellington Management Group LLP raised its holdings in Automatic Data Processing by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock valued at $2,004,691,000 after acquiring an additional 2,208,927 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Automatic Data Processing by 133.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after purchasing an additional 964,405 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.
Automatic Data Processing Price Performance
Shares of ADP stock opened at $242.27 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $219.94 and its two-hundred day moving average is $225.81. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The company has a market capitalization of $96.84 billion, a PE ratio of 22.60 and a beta of 0.83.
Automatic Data Processing Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a $1.70 dividend. The ex-dividend date was Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a yield of 2.8%. Automatic Data Processing’s dividend payout ratio is currently 63.43%.
Analyst Ratings Changes
ADP has been the topic of several recent research reports. Guggenheim assumed coverage on Automatic Data Processing in a report on Thursday, March 19th. They set a “buy” rating and a $270.00 target price on the stock. Wells Fargo & Company raised Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 price target for the company in a report on Monday, May 18th. Stifel Nicolaus reduced their price objective on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. Argus lowered their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Cantor Fitzgerald lowered their price objective on Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $244.29.
Check Out Our Latest Stock Report on Automatic Data Processing
Automatic Data Processing 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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