Teachers Retirement System of The State of Kentucky Has $8.49 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 30,671 shares of the business services provider's stock after selling 2,107 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Automatic Data Processing were worth $8,488,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Accredited Investors Inc. grew its stake in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider's stock worth $3,305,780,000 after buying an additional 1,190,407 shares in the last quarter. Holocene Advisors LP acquired a new position in Automatic Data Processing in the third quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock worth $172,497,000 after buying an additional 479,145 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider's stock valued at $153,749,000 after buying an additional 456,027 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent research reports. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Citigroup raised their target price 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. Mizuho lifted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Finally, Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $289.91.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Down 0.2 %

ADP traded down $0.45 during trading on Friday, reaching $296.76. 1,620,501 shares of the stock traded hands, compared to its average volume of 1,645,547. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.63. The stock's 50-day simple moving average is $296.79 and its two-hundred day simple moving average is $271.23. The stock has a market cap of $120.92 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing's payout ratio is presently 59.77%.

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.