Robeco Institutional Asset Management B.V. Boosts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Robeco Institutional Asset Management B.V. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,450 shares of the business services provider’s stock after purchasing an additional 61,123 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Automatic Data Processing were worth $104,018,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ADP. AMG National Trust Bank lifted its holdings in shares of Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after purchasing an additional 33 shares during the last quarter. Sentinus LLC increased its stake in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after buying an additional 36 shares during the period. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares during the period. Finally, Howard Financial Services LTD. lifted its stake in Automatic Data Processing by 2.2% during the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider’s stock valued at $530,000 after buying an additional 38 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. UBS Group dropped their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 17th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $307.08.

Automatic Data Processing Trading Down 4.2%

NASDAQ ADP opened at $298.19 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The firm’s fifty day simple moving average is $310.13 and its 200-day simple moving average is $303.01. The company has a market capitalization of $121.04 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.23 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s payout ratio is currently 63.05%.

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.