Zurcher Kantonalbank Zurich Cantonalbank Has $52.17 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 47.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 223,944 shares of the business services provider’s stock after buying an additional 71,703 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Automatic Data Processing were worth $52,172,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ardent Capital Management Inc. bought a new position in Automatic Data Processing in the third quarter valued at approximately $392,000. Americana Partners LLC grew its stake in Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after purchasing an additional 660 shares in the last quarter. Everence Capital Management Inc. grew its stake in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $1,635,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,162 shares of company stock valued at $3,741,859. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $244.21 on Wednesday. The stock has a market capitalization of $100.32 billion, a PE ratio of 28.43, a P/E/G ratio of 2.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $247.69 and a two-hundred day moving average price of $239.16. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.96 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.29%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ADP shares. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Company 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.