Allspring Global Investments Holdings LLC Purchases 5,803 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Allspring Global Investments Holdings LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,150 shares of the business services provider's stock after acquiring an additional 5,803 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Automatic Data Processing were worth $11,919,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp raised its holdings in Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider's stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the period. Geode Capital Management LLC increased its holdings in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider's stock worth $2,906,257,000 after purchasing an additional 286,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Automatic Data Processing by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider's stock worth $896,197,000 after purchasing an additional 41,709 shares during the period. Accredited Investors Inc. increased its holdings in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Automatic Data Processing by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider's stock worth $623,419,000 after purchasing an additional 17,717 shares during the period. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $293.55.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $1.21 during mid-day trading on Friday, reaching $310.76. The company had a trading volume of 1,600,341 shares, compared to its average volume of 1,606,313. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $313.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $126.62 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.65 and a beta of 0.79. The business has a fifty day simple moving average of $298.72 and a 200 day simple moving average of $290.11.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. Automatic Data Processing's dividend payout ratio is currently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Foskett sold 1,004 shares of Automatic Data Processing stock in a transaction on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now owns 5,958 shares in the company, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 over the last quarter. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing 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.