Ilmarinen Mutual Pension Insurance Co Has $19.32 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ilmarinen Mutual Pension Insurance Co grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 149.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,000 shares of the business services provider's stock after acquiring an additional 39,500 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Automatic Data Processing were worth $19,320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in Automatic Data Processing by 2.5% in the fourth quarter. Russell Investments Group Ltd. now owns 490,671 shares of the business services provider's stock valued at $143,644,000 after acquiring an additional 11,919 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Automatic Data Processing by 10.1% during the fourth quarter. Wedbush Securities Inc. now owns 7,275 shares of the business services provider's stock worth $2,130,000 after buying an additional 667 shares in the last quarter. Aviva PLC lifted its position in shares of Automatic Data Processing by 2.8% in the fourth quarter. Aviva PLC now owns 962,810 shares of the business services provider's stock worth $281,843,000 after purchasing an additional 26,141 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in Automatic Data Processing in the fourth quarter valued at $38,497,000. Finally, Broderick Brian C increased its stake in Automatic Data Processing by 1.9% in the 4th quarter. Broderick Brian C now owns 58,200 shares of the business services provider's stock valued at $17,037,000 after buying an additional 1,082 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. This represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,364 shares of company stock worth $1,613,094. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $302.30.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $0.48 during mid-day trading on Thursday, reaching $294.21. 1,645,421 shares of the company were exchanged, compared to its average volume of 1,658,972. The firm has a market cap of $119.88 billion, a PE ratio of 30.64, a PEG ratio of 3.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a fifty day simple moving average of $302.79 and a 200-day simple moving average of $297.29. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates 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, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

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.