Pictet North America Advisors SA Purchases 17,879 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pictet North America Advisors SA increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 122.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,424 shares of the business services provider's stock after purchasing an additional 17,879 shares during the quarter. Pictet North America Advisors SA's holdings in Automatic Data Processing were worth $9,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the third quarter worth $26,000. Dunhill Financial LLC raised its position in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after acquiring an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $37,000. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the 3rd quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing during the 4th quarter valued at approximately $37,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Up 0.6 %

ADP traded up $1.74 during midday trading on Tuesday, reaching $309.89. 1,313,163 shares of the company were exchanged, compared to its average volume of 1,622,654. The company has a market cap of $126.27 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67. The company's fifty day moving average price is $297.77 and its 200 day moving average price is $289.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's payout ratio is currently 64.23%.

Analysts Set New Price Targets

A number of brokerages have commented on ADP. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group raised their price target 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. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a report on Friday, November 1st. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $293.55.

Insider Activity at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Foskett sold 1,067 shares of the business's stock in a transaction on Monday, January 13th. The stock was 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 directly owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock valued at $1,617,241 over the last ninety days. 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.