PGGM Investments Buys 8,957 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

PGGM Investments grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,876 shares of the business services provider's stock after purchasing an additional 8,957 shares during the quarter. PGGM Investments' holdings in Automatic Data Processing were worth $14,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC lifted its stake in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after buying an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the fourth quarter worth approximately $37,000. Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $294.18 on Thursday. The company has a market capitalization of $119.87 billion, a PE ratio of 30.68, a PEG ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock's 50 day moving average price is $302.30 and its 200-day moving average price is $294.33. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84.

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted 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 return on equity of 80.86% and a net margin of 19.76%. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business 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. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.09%. Automatic Data Processing's payout ratio is currently 64.23%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADP. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group raised their price objective 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. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, 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 report on Thursday, January 30th. Two equities 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $296.18.

Insider Buying and Selling

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher D'ambrosio sold 473 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,951 shares of company stock worth $1,762,074. Insiders own 0.21% of the company's stock.

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.

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