Public Employees Retirement Association of Colorado Trims Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Public Employees Retirement Association of Colorado lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the 3rd quarter, according to the company in its most recent Form 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 period. Public Employees Retirement Association of Colorado’s holdings in Automatic Data Processing were worth $11,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Glassman Wealth Services grew its position in Automatic Data Processing by 67.8% during the third quarter. Glassman Wealth Services now owns 198 shares of the business services provider’s stock valued at $28,000 after buying an additional 80 shares during the period. Sun Life Financial INC acquired a new stake in Automatic Data Processing during the third quarter valued at $36,000. Riggs Asset Managment Co. Inc. grew its position in Automatic Data Processing by 200.0% during the third quarter. Riggs Asset Managment Co. Inc. now owns 600 shares of the business services provider’s stock valued at $38,000 after buying an additional 400 shares during the period. Tarbox Family Office Inc. grew its position in Automatic Data Processing by 86.3% during the second quarter. Tarbox Family Office Inc. now owns 300 shares of the business services provider’s stock valued at $45,000 after buying an additional 139 shares during the period. Finally, RMR Wealth Builders acquired a new stake in Automatic Data Processing during the second quarter valued at $47,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

ADP opened at $171.27 on Friday. The firm has a market capitalization of $73.44 billion, a PE ratio of 29.73, a PEG ratio of 2.62 and a beta of 0.69. Automatic Data Processing, Inc. has a twelve month low of $103.11 and a twelve month high of $182.32. The firm’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 posted its quarterly earnings results on Wednesday, October 28th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.44. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $1.34 earnings per share. As a group, analysts predict that Automatic Data Processing, Inc. will post 5.64 earnings per share for the current fiscal year.

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

In other Automatic Data Processing news, VP Brian L. Michaud sold 250 shares of Automatic Data Processing stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $148.00, for a total transaction of $37,000.00. Following the transaction, the vice president now directly owns 6,112 shares of the company’s stock, valued at $904,576. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 37,593 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $172.00, for a total transaction of $6,465,996.00. Insiders have sold 127,459 shares of company stock worth $19,660,527 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

ADP has been the topic of several analyst reports. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $135.00 to $168.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. Credit Suisse Group raised their price target on shares of Automatic Data Processing from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, November 9th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday, November 2nd. JPMorgan Chase & Co. lifted their target price on shares of Automatic Data Processing from $138.00 to $151.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Finally, Cowen lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $150.00 to $143.00 in a research report on Monday, September 21st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $159.93.

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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