KLP Kapitalforvaltning AS Purchases Shares of 185,879 Automatic Data Processing, Inc. (NASDAQ:ADP)

KLP Kapitalforvaltning AS purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 185,879 shares of the business services provider's stock, valued at approximately $54,655,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. AMG National Trust Bank boosted its position in Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after purchasing an additional 33 shares during the period. Aspiriant LLC lifted its stake in shares of Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock valued at $694,000 after buying an additional 36 shares in the last quarter. Precedent Wealth Partners LLC boosted its holdings in Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after buying an additional 36 shares during the period. Riversedge Advisors LLC grew its stake in Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock valued at $268,000 after buying an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. raised its holdings in Automatic Data Processing by 2.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock valued at $539,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

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Analyst Ratings Changes

ADP has been the topic of several analyst reports. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays boosted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average target price of $296.18.

Automatic Data Processing Trading Up 1.0 %

Shares of Automatic Data Processing stock traded up $3.03 during trading on Wednesday, reaching $302.41. The company's stock had a trading volume of 1,851,076 shares, compared to its average volume of 1,464,163. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The firm's 50-day moving average is $303.59 and its two-hundred day moving average is $295.96. The company has a market cap of $123.22 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is currently 64.23%.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,004 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares of the company's stock, valued at $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 in the last three months. Insiders own 0.21% of the company's stock.

About Automatic Data Processing

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.