Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 397,872 shares of the business services provider's stock after purchasing an additional 50,924 shares during the period. Teacher Retirement System of Texas owned 0.10% of Automatic Data Processing worth $116,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ADP. State Street Corp increased its holdings in Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider's stock worth $5,098,541,000 after buying an additional 424,328 shares during the period. Geode Capital Management LLC lifted its position in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider's stock valued at $2,906,257,000 after buying an additional 286,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Automatic Data Processing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider's stock valued at $896,197,000 after buying an additional 41,709 shares in the last quarter. Amundi boosted its stake in Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider's stock worth $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Automatic Data Processing by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider's stock worth $679,675,000 after purchasing an additional 69,042 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADP. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays boosted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. UBS Group boosted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Two investment 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's stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average price target of $296.18.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,951 shares of company stock valued at $1,762,074. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

ADP traded up $3.57 on Monday, hitting $298.89. 1,709,089 shares of the company were exchanged, compared to its average volume of 1,460,980. The firm has a market capitalization of $121.78 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The business's fifty day moving average is $303.08 and its 200 day moving average is $295.50. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its 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%. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. Automatic Data Processing's dividend payout ratio (DPR) is 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.