Russell Investments Group Ltd. Has $100.33 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Russell Investments Group Ltd. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 430,712 shares of the business services provider’s stock after buying an additional 44,191 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Automatic Data Processing worth $100,326,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its stake in Automatic Data Processing by 10,832.1% during the third quarter. Exchange Traded Concepts LLC now owns 3,061 shares of the business services provider’s stock worth $736,000 after purchasing an additional 3,033 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Automatic Data Processing by 3.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,584 shares of the business services provider’s stock worth $1,103,000 after purchasing an additional 158 shares during the period. Evanson Asset Management LLC bought a new position in Automatic Data Processing during the third quarter worth about $205,000. Country Club Bank GFN lifted its stake in Automatic Data Processing by 3.7% during the third quarter. Country Club Bank GFN now owns 5,969 shares of the business services provider’s stock worth $1,452,000 after purchasing an additional 215 shares during the period. Finally, Valeo Financial Advisors LLC lifted its stake in Automatic Data Processing by 2.0% during the third quarter. Valeo Financial Advisors LLC now owns 7,177 shares of the business services provider’s stock worth $1,727,000 after purchasing an additional 144 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 1.3 %

Shares of ADP traded down $3.27 during trading hours on Friday, reaching $243.07. The stock had a trading volume of 1,555,489 shares, compared to its average volume of 1,384,926. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The firm has a 50-day moving average of $246.70 and a 200 day moving average of $239.19. The company has a market cap of $99.85 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.28 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the company earned $1.96 EPS. The company’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.30%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $258.36.

Insider Activity at Automatic Data Processing

In related news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Automatic Data Processing 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.