Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Pictet North America Advisors SA

Pictet North America Advisors SA raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 122.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,424 shares of the business services provider’s stock after buying an additional 17,879 shares during the period. Pictet North America Advisors SA’s holdings in Automatic Data Processing were worth $9,491,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ADP. Exchange Traded Concepts LLC boosted its holdings in Automatic Data Processing by 22.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock worth $1,278,000 after buying an additional 861 shares in the last quarter. Creative Planning boosted its stake in Automatic Data Processing by 2.8% in the 3rd quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock worth $35,306,000 after purchasing an additional 3,456 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Automatic Data Processing by 11.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 24,542 shares of the business services provider’s stock worth $6,792,000 after purchasing an additional 2,504 shares during the period. Culbertson A N & Co. Inc. boosted its stake in Automatic Data Processing by 3.5% in the 3rd quarter. Culbertson A N & Co. Inc. now owns 25,153 shares of the business services provider’s stock worth $6,961,000 after purchasing an additional 859 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new position in Automatic Data Processing in the 3rd quarter worth approximately $827,000. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Shares of ADP opened at $310.22 on Friday. The company has a market capitalization of $126.40 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $297.32 and its 200 day moving average price is $287.85.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Mizuho lifted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $293.55.

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.