California State Teachers Retirement System decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 828,910 shares of the business services provider’s stock after selling 78,390 shares during the period. California State Teachers Retirement System owned about 0.19% of Automatic Data Processing worth $84,931,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ADP. BlackRock Inc. boosted its position in Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after purchasing an additional 28,201,085 shares during the last quarter. Cedar Capital LLC purchased a new position in Automatic Data Processing in the second quarter worth $254,000. Gardiner Nancy B boosted its position in Automatic Data Processing by 8.8% in the second quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock worth $2,153,000 after purchasing an additional 1,705 shares during the last quarter. Gotham Asset Management LLC purchased a new position in Automatic Data Processing in the first quarter worth $1,447,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in Automatic Data Processing by 1.0% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock worth $3,957,000 after purchasing an additional 380 shares during the last quarter. 78.41% of the stock is currently owned by institutional investors.

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

Several research analysts have weighed in on the company. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Co reissued a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Morgan Stanley reissued an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, Royal Bank Of Canada upped their price target on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 1st. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $112.37.

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Automatic Data Processing, Inc. (NASDAQ ADP) opened at $110.21 on Friday. Automatic Data Processing, Inc. has a 1 year low of $94.11 and a 1 year high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $48,877.00, a price-to-earnings ratio of 29.47, a PEG ratio of 2.82 and a beta of 0.87.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is currently 58.02%.

Automatic Data Processing Company 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)

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