Public Sector Pension Investment Board Acquires 2,000 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Public Sector Pension Investment Board grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,514 shares of the business services provider's stock after purchasing an additional 2,000 shares during the period. Public Sector Pension Investment Board's holdings in Automatic Data Processing were worth $4,847,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 valued at $896,197,000 after buying an additional 41,709 shares in the last quarter. Noesis Capital Mangement Corp raised its stake in shares of Automatic Data Processing by 50.4% in the 3rd quarter. Noesis Capital Mangement Corp now owns 1,384 shares of the business services provider's stock valued at $383,000 after acquiring an additional 464 shares in the last quarter. BBR Partners LLC lifted its holdings in Automatic Data Processing by 358.9% in the 3rd quarter. BBR Partners LLC now owns 6,291 shares of the business services provider's stock worth $1,741,000 after purchasing an additional 4,920 shares during the last quarter. CreativeOne Wealth LLC boosted its position in Automatic Data Processing by 23.8% during the third quarter. CreativeOne Wealth LLC now owns 6,976 shares of the business services provider's stock worth $1,930,000 after purchasing an additional 1,339 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock valued at $172,497,000 after buying an additional 479,145 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded down $0.90 during mid-day trading on Monday, hitting $306.03. The stock had a trading volume of 1,279,175 shares, compared to its average volume of 1,631,066. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $124.69 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 3.57 and a beta of 0.79. The company's 50 day simple moving average is $292.45 and its 200 day simple moving average is $268.30.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the company posted $2.08 EPS. The company's revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio (DPR) is 59.77%.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company's stock, valued at approximately $9,899,862.45. The trade was a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,504 shares of company stock worth $20,298,056 in the last ninety days. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADP shares. Royal Bank of Canada raised their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 31st. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research report on Friday, November 1st. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Thursday, September 19th. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Finally, UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $289.91.

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.