UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,238,526 shares of the business services provider’s stock after purchasing an additional 41,709 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.79% of Automatic Data Processing worth $896,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Noesis Capital Mangement Corp raised its position in shares of Automatic Data Processing by 50.4% during the 3rd quarter. Noesis Capital Mangement Corp now owns 1,384 shares of the business services provider’s stock valued at $383,000 after acquiring an additional 464 shares in the last quarter. BBR Partners LLC raised its stake in Automatic Data Processing by 358.9% during the third quarter. BBR Partners LLC now owns 6,291 shares of the business services provider’s stock worth $1,741,000 after acquiring an additional 4,920 shares during the period. CreativeOne Wealth LLC lifted its holdings in Automatic Data Processing by 23.8% in the third quarter. CreativeOne Wealth LLC now owns 6,976 shares of the business services provider’s stock worth $1,930,000 after acquiring an additional 1,339 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares during the last quarter. Finally, Townsquare Capital LLC boosted its stake in Automatic Data Processing by 8.6% in the third quarter. Townsquare Capital LLC now owns 55,611 shares of the business services provider’s stock valued at $15,389,000 after acquiring an additional 4,405 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,504 shares of company stock valued at $20,298,056. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADP. Jefferies Financial Group raised their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Trading Down 0.3 %

Automatic Data Processing stock opened at $306.92 on Thursday. Automatic Data Processing, Inc. has a 12-month low of $227.12 and a 12-month high of $309.63. The stock has a market capitalization of $125.06 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79. The firm has a 50 day simple moving average of $291.26 and a 200-day simple moving average of $267.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period last year, the firm earned $2.08 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $1.54 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s payout ratio is 59.77%.

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.