State of Wisconsin Investment Board boosted its position in Automatic Data Processing (NASDAQ:ADP) by 38.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 546,152 shares of the business services provider’s stock after acquiring an additional 151,708 shares during the quarter. State of Wisconsin Investment Board owned 0.12% of Automatic Data Processing worth $59,705,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after buying an additional 28,201,085 shares during the last quarter. Cedar Capital LLC bought a new stake in shares of Automatic Data Processing during the second quarter worth $254,000. Gardiner Nancy B grew its stake in shares of Automatic Data Processing by 8.8% during the second quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock worth $2,153,000 after buying an additional 1,705 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of Automatic Data Processing during the first quarter worth $1,447,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Automatic Data Processing by 1.0% during 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 buying an additional 380 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on ADP. Goldman Sachs Group raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.02 to $135.00 in a research note on Monday. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BidaskClub raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Morgan Stanley reissued an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday, November 15th. Finally, Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Wednesday, November 8th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $114.17.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $117.05 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a one year low of $94.11 and a one year high of $121.77. The firm has a market cap of $51,453.67, a price-to-earnings ratio of 31.02, a P/E/G ratio of 2.87 and a beta of 0.85.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a $0.63 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.52 annualized dividend and a yield of 2.15%. Automatic Data Processing’s payout ratio is presently 64.12%.

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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.

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

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