Ontario Teachers Pension Plan Board Purchases New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ontario Teachers Pension Plan Board acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,870 shares of the business services provider's stock, valued at approximately $547,000.

Several other hedge funds have also made changes to their positions in the company. Virtu Financial LLC lifted its stake in Automatic Data Processing by 202.7% in the third quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock valued at $1,348,000 after acquiring an additional 3,261 shares during the last quarter. Tudor Financial Inc. bought a new position in Automatic Data Processing during the third quarter valued at about $310,000. Anchor Investment Management LLC boosted its stake in shares of Automatic Data Processing by 7.0% during the 3rd quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock worth $4,257,000 after acquiring an additional 1,001 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in shares of Automatic Data Processing by 3.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock valued at $2,753,000 after acquiring an additional 337 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in Automatic Data Processing by 22.6% during the third quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock valued at $2,066,000 after purchasing an additional 1,378 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Up 2.5 %

Shares of NASDAQ:ADP traded up $7.10 during trading on Tuesday, hitting $291.95. 192,281 shares of the company's stock were exchanged, compared to its average volume of 1,674,629. The firm has a 50-day moving average price of $300.84 and a two-hundred day moving average price of $298.30. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $118.96 billion, a P/E ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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%. Equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. Automatic Data Processing's payout ratio is 64.23%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,775 shares of company stock worth $1,447,893 over the last ninety days. 0.21% 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.