Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Unigestion Holding SA

Unigestion Holding SA lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 105.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,090 shares of the business services provider's stock after purchasing an additional 84,715 shares during the period. Automatic Data Processing comprises approximately 2.2% of Unigestion Holding SA's holdings, making the stock its 10th biggest holding. Unigestion Holding SA's holdings in Automatic Data Processing were worth $45,677,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tower Wealth Partners Inc. raised its position in shares of Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider's stock worth $292,000 after acquiring an additional 35 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider's stock worth $482,000 after acquiring an additional 36 shares during the period. Petredis Investment Advisors LLC lifted its position in shares of Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider's stock worth $2,902,000 after acquiring an additional 37 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Automatic Data Processing by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock worth $1,360,000 after purchasing an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC raised its stake in Automatic Data Processing by 4.4% in the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider's stock valued at $255,000 after purchasing an additional 39 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $1.48 during midday trading on Wednesday, reaching $300.75. The company's stock had a trading volume of 1,952,248 shares, compared to its average volume of 1,646,542. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.63. The stock has a fifty day moving average of $296.17 and a 200 day moving average of $270.83. The firm has a market capitalization of $122.54 billion, a PE ratio of 32.10, a P/E/G ratio of 3.54 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly 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. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared 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 2.05%. This is an increase 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 59.77%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of analyst reports. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an "underweight" rating in a report on Tuesday, August 20th. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Barclays lifted their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average price target of $289.91.

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.