Ninety One UK Ltd Has $586.64 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ninety One UK Ltd lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,518,076 shares of the business services provider’s stock after selling 10,335 shares during the quarter. Automatic Data Processing makes up approximately 1.7% of Ninety One UK Ltd’s investment portfolio, making the stock its 15th largest holding. Ninety One UK Ltd’s holdings in Automatic Data Processing were worth $586,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADP. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $25,000. Coppell Advisory Solutions LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing in the 1st quarter valued at $31,000. Coppell Advisory Solutions Corp. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $33,000. Finally, Fortitude Family Office LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of several research reports. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $254.58.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

ADP stock traded down $0.66 during mid-day trading on Thursday, reaching $242.24. 337,468 shares of the company traded hands, compared to its average volume of 1,803,954. 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 company has a market capitalization of $99.51 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-week high of $256.84. The company has a fifty day moving average price of $247.54 and a 200-day moving average price of $239.18.

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

Automatic Data Processing Dividend Announcement

The firm also recently disclosed 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. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

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.