Public Employees Retirement Association of Colorado decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,535 shares of the business services provider’s stock after selling 257 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Automatic Data Processing were worth $11,094,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley raised its position in Automatic Data Processing by 6.5% during the 1st quarter. Morgan Stanley now owns 11,440,067 shares of the business services provider’s stock worth $1,563,628,000 after buying an additional 702,522 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Automatic Data Processing by 14.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 36,512 shares of the business services provider’s stock worth $5,436,000 after buying an additional 4,478 shares during the last quarter. Nwam LLC raised its position in Automatic Data Processing by 4.0% during the 2nd quarter. Nwam LLC now owns 2,904 shares of the business services provider’s stock worth $432,000 after buying an additional 113 shares during the last quarter. Tarbox Family Office Inc. raised its position in Automatic Data Processing by 86.3% during the 2nd quarter. Tarbox Family Office Inc. now owns 300 shares of the business services provider’s stock worth $45,000 after buying an additional 139 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Automatic Data Processing by 11.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 186,115 shares of the business services provider’s stock worth $27,711,000 after buying an additional 19,424 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

In other Automatic Data Processing news, VP Joseph Desilva sold 450 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $160.00, for a total transaction of $72,000.00. Following the sale, the vice president now directly owns 2,855 shares of the company’s stock, valued at approximately $456,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 250 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $148.00, for a total transaction of $37,000.00. Following the sale, the vice president now directly owns 6,112 shares in the company, valued at $904,576. The disclosure for this sale can be found here. Insiders have sold a total of 127,459 shares of company stock worth $19,660,527 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

A number of equities analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of Automatic Data Processing from $149.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, October 29th. Stifel Nicolaus cut their price target on shares of Automatic Data Processing from $155.00 to $142.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Morgan Stanley increased their price target on shares of Automatic Data Processing from $147.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Citigroup cut their price target on shares of Automatic Data Processing from $148.00 to $144.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Credit Suisse Group increased their price target on shares of Automatic Data Processing from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, November 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $159.93.

Shares of NASDAQ ADP opened at $171.27 on Friday. The stock has a market cap of $73.44 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.62 and a beta of 0.69. Automatic Data Processing, Inc. has a 52 week low of $103.11 and a 52 week high of $182.32. The company’s 50-day moving average price is $155.67 and its 200 day moving average price is $145.52. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.34.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 28th. The business services provider reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.44. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. During the same period in the prior year, the company earned $1.34 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 5.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.17%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, December 10th. Automatic Data Processing’s dividend payout ratio is presently 61.49%.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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

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