Ontario Teachers Pension Plan Board grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,072 shares of the business services provider’s stock after purchasing an additional 8,797 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Automatic Data Processing were worth $7,487,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ADP. Veritable L.P. boosted its stake in shares of Automatic Data Processing by 3.8% during the second quarter. Veritable L.P. now owns 30,037 shares of the business services provider’s stock worth $3,078,000 after buying an additional 1,095 shares during the period. Epoch Investment Partners Inc. boosted its stake in shares of Automatic Data Processing by 6.0% during the second quarter. Epoch Investment Partners Inc. now owns 1,733,744 shares of the business services provider’s stock worth $177,639,000 after buying an additional 98,540 shares during the period. Ally Financial Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter worth about $1,025,000. Dimensional Fund Advisors LP boosted its stake in shares of Automatic Data Processing by 7.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,104,721 shares of the business services provider’s stock worth $113,185,000 after buying an additional 75,384 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Automatic Data Processing by 80.5% during the second quarter. Parametric Portfolio Associates LLC now owns 1,725,711 shares of the business services provider’s stock worth $176,816,000 after buying an additional 769,568 shares during the period. 79.74% of the stock is currently owned by institutional investors.

WARNING: “Ontario Teachers Pension Plan Board Raises Holdings in Automatic Data Processing, Inc. (ADP)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.thecerbatgem.com/2017/11/15/ontario-teachers-pension-plan-board-raises-holdings-in-automatic-data-processing-inc-adp.html.

In other news, VP Maria Black sold 631 shares of the firm’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a research note on Friday, September 15th. BMO Capital Markets reiterated a “market perform” rating and set a $105.00 target price on shares of Automatic Data Processing in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a research note on Sunday, July 30th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $112.37.

Automatic Data Processing, Inc. (NASDAQ ADP) opened at $112.08 on Wednesday. Automatic Data Processing, Inc. has a 1-year low of $91.60 and a 1-year high of $121.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $49,462.40, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. equities research analysts anticipate that Automatic Data Processing, Inc. will post 3.91 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be issued a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.25%. Automatic Data Processing’s dividend payout ratio (DPR) is 58.02%.

Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Stock Ratings for Automatic Data Processing Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing Inc. and related stocks with our FREE daily email newsletter.