Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 110.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,172 shares of the business services provider's stock after acquiring an additional 2,711 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Automatic Data Processing were worth $1,438,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Petredis Investment Advisors LLC raised its position in shares of Automatic Data Processing by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider's stock valued at $2,902,000 after purchasing an additional 37 shares in the last quarter. Moors & Cabot Inc. raised its stake in Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock valued at $1,360,000 after purchasing an additional 39 shares during the period. Schmidt P J Investment Management Inc. grew its position in Automatic Data Processing by 0.4% during the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider's stock valued at $2,302,000 after purchasing an additional 40 shares in the last quarter. Trifecta Capital Advisors LLC increased its holdings in Automatic Data Processing by 22.1% in the third quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider's stock worth $61,000 after buying an additional 40 shares during the last quarter. Finally, Confluence Wealth Services Inc. boosted its holdings in Automatic Data Processing by 5.0% during the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider's stock valued at $206,000 after acquiring an additional 41 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $1.51 during trading on Tuesday, reaching $287.95. 2,582,306 shares of the company's stock traded hands, compared to its average volume of 1,630,903. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $117.86 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $294.18. The company has a 50 day moving average of $279.83 and a 200-day moving average of $258.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, equities analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing's payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 20th. Citigroup upped their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Jefferies Financial Group lifted their price target on 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, Bank of America raised their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $277.64.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now owns 10,410 shares of the company's stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Don Mcguire sold 3,179 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

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.