Forsta AP Fonden lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,100 shares of the business services provider’s stock after selling 2,800 shares during the period. Forsta AP Fonden’s holdings in Automatic Data Processing were worth $37,791,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Automatic Data Processing by 7.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 43,305 shares of the business services provider’s stock valued at $10,343,000 after purchasing an additional 3,151 shares during the last quarter. Regal Investment Advisors LLC increased its position in Automatic Data Processing by 10.0% during the second quarter. Regal Investment Advisors LLC now owns 15,342 shares of the business services provider’s stock worth $3,662,000 after buying an additional 1,401 shares during the period. EP Wealth Advisors LLC lifted its stake in Automatic Data Processing by 25.6% in the second quarter. EP Wealth Advisors LLC now owns 19,408 shares of the business services provider’s stock valued at $4,632,000 after buying an additional 3,951 shares during the last quarter. Next Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 5.3% in the second quarter. Next Capital Management LLC now owns 1,442 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 72 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Truist Financial Corp now owns 851,390 shares of the business services provider’s stock valued at $203,218,000 after acquiring an additional 5,900 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Analyst Ratings Changes
Several brokerages have issued reports on ADP. Mizuho raised their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays lifted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $289.91.
Insiders Place Their Bets
In related news, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.
Automatic Data Processing Stock Performance
Shares of ADP opened at $298.31 on Wednesday. The company has a 50-day moving average of $297.19 and a two-hundred day moving average of $283.65. The stock has a market cap of $121.55 billion, a P/E ratio of 31.84, a PEG ratio of 3.45 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.
Automatic Data Processing Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.06%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.
About Automatic Data Processing
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.
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