KBC Group NV Has $23.03 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

KBC Group NV cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,213 shares of the business services provider's stock after selling 2,103 shares during the period. KBC Group NV's holdings in Automatic Data Processing were worth $23,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. ROI Financial Advisors LLC increased its position in shares of Automatic Data Processing by 12.7% in the 3rd quarter. ROI Financial Advisors LLC now owns 5,726 shares of the business services provider's stock worth $1,585,000 after purchasing an additional 645 shares during the last quarter. Plato Investment Management Ltd grew its stake in Automatic Data Processing by 1.4% in the third quarter. Plato Investment Management Ltd now owns 26,995 shares of the business services provider's stock worth $7,463,000 after purchasing an additional 385 shares in the last quarter. Cable Hill Partners LLC increased its holdings in Automatic Data Processing by 11.8% in the third quarter. Cable Hill Partners LLC now owns 1,233 shares of the business services provider's stock valued at $343,000 after buying an additional 130 shares during the last quarter. Bell Bank acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $226,000. Finally, ICICI Prudential Asset Management Co Ltd lifted its holdings in Automatic Data Processing by 18.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 5,323 shares of the business services provider's stock worth $1,473,000 after buying an additional 827 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADP. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a report on Friday, November 1st. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Bank of America lifted their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average price target of $289.91.

Automatic Data Processing Stock Down 1.4 %

Automatic Data Processing stock opened at $297.64 on Friday. The company's 50-day moving average price is $287.23 and its two-hundred day moving average price is $263.87. The stock has a market cap of $121.28 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.58 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $227.12 and a 52 week high of $309.37. 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 announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 earnings per share. On average, analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing's payout ratio is presently 59.77%.

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.