IFM Investors Pty Ltd lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,495 shares of the business services provider’s stock after acquiring an additional 6,081 shares during the quarter. IFM Investors Pty Ltd’s holdings in Automatic Data Processing were worth $7,311,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its stake in Automatic Data Processing by 19.5% during the second quarter. Sequoia Financial Advisors LLC now owns 4,827 shares of the business services provider’s stock worth $719,000 after buying an additional 788 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Automatic Data Processing by 48.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,815 shares of the business services provider’s stock valued at $1,759,000 after acquiring an additional 3,830 shares in the last quarter. Engineers Gate Manager LP increased its stake in Automatic Data Processing by 7.6% in the second quarter. Engineers Gate Manager LP now owns 9,037 shares of the business services provider’s stock valued at $1,346,000 after acquiring an additional 635 shares during the period. AQR Capital Management LLC raised its position in Automatic Data Processing by 9.6% in the second quarter. AQR Capital Management LLC now owns 403,358 shares of the business services provider’s stock worth $59,342,000 after purchasing an additional 35,230 shares in the last quarter. Finally, WFA of San Diego LLC bought a new position in Automatic Data Processing during the second quarter worth about $282,000. 79.65% of the stock is owned by hedge funds and other institutional investors.
Shares of ADP stock traded down $4.40 during trading hours on Wednesday, reaching $164.66. 2,801,996 shares of the company were exchanged, compared to its average volume of 1,957,892. Automatic Data Processing, Inc. has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average is $174.09 and its two-hundred day moving average is $153.43. The company has a market cap of $70.61 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 2.53 and a beta of 0.70.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 1st. Stockholders of record on Friday, March 12th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s payout ratio is currently 62.84%.
In other news, VP Joseph Desilva sold 450 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $160.00, for a total value of $72,000.00. Following the transaction, the vice president now owns 2,855 shares of the company’s stock, valued at approximately $456,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brock Albinson sold 2,151 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $175.97, for a total transaction of $378,511.47. Following the sale, the vice president now owns 38,685 shares of the company’s stock, valued at approximately $6,807,399.45. The disclosure for this sale can be found here. Insiders have sold 77,731 shares of company stock worth $12,957,058 in the last ninety days. 0.34% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on ADP. BMO Capital Markets increased their target price on Automatic Data Processing from $149.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, October 29th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $135.00 to $168.00 and gave the company a “hold” rating in a report on Wednesday, October 28th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $147.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Finally, Wells Fargo & Company started coverage on shares of Automatic Data Processing in a report on Friday, December 18th. They set an “overweight” rating and a $200.00 price target for the company. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $158.00.
About Automatic Data Processing
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through 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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