Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,612 shares of the business services provider’s stock after purchasing an additional 2,256 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Automatic Data Processing were worth $12,639,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADP. Vanguard Group Inc. grew its holdings in shares of Automatic Data Processing by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock worth $9,224,713,000 after buying an additional 412,434 shares during the last quarter. Northern Trust Corp grew its stake in shares of Automatic Data Processing by 5.1% in the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after purchasing an additional 288,234 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Automatic Data Processing by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after purchasing an additional 249,566 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Automatic Data Processing by 18.3% during the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after purchasing an additional 553,946 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Automatic Data Processing by 22.5% during the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after purchasing an additional 649,791 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. TD Cowen lowered their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.91 during mid-day trading on Friday, reaching $247.97. The stock had a trading volume of 3,022,851 shares, compared to its average volume of 1,362,978. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $245.89 and a 200 day simple moving average of $243.40. The company has a market cap of $101.49 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.52 earnings per share. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

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.