Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 30.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,533 shares of the business services provider's stock after buying an additional 36,685 shares during the period. Border to Coast Pensions Partnership Ltd's holdings in Automatic Data Processing were worth $45,791,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ADP. Accredited Investors Inc. increased its holdings in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock valued at $640,712,000 after acquiring an additional 2,264,202 shares during the period. International Assets Investment Management LLC grew its position in Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider's stock worth $3,305,780,000 after purchasing an additional 1,190,407 shares during the last quarter. Holocene Advisors LP acquired a new position in Automatic Data Processing in the third quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Automatic Data Processing by 332.3% in the third 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. Finally, Mackenzie Financial Corp boosted its stake in shares of Automatic Data Processing by 242.4% during the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider's stock worth $153,749,000 after buying an additional 456,027 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction 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 $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Insiders have sold a total of 42,129 shares of company stock valued at $12,604,872 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Saturday, January 11th. Finally, Mizuho upped their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $289.91.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $0.05 on Friday, hitting $296.18. The company had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. The company has a market cap of $120.68 billion, a PE ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. The business has a 50 day moving average of $297.90 and a 200 day moving average of $279.99. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week 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 released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio is presently 65.74%.

Automatic Data Processing Company 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.