Gulf International Bank UK Ltd Has $9.30 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gulf International Bank UK Ltd reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,771 shares of the business services provider’s stock after selling 360 shares during the period. Gulf International Bank UK Ltd’s holdings in Automatic Data Processing were worth $9,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Blueprint LLC raised its position in Automatic Data Processing by 1.0% during the third quarter. Strategic Blueprint LLC now owns 4,454 shares of the business services provider’s stock valued at $1,233,000 after acquiring an additional 46 shares in the last quarter. Fidelis Capital Partners LLC raised its position in shares of Automatic Data Processing by 4.4% in the third quarter. Fidelis Capital Partners LLC now owns 7,844 shares of the business services provider’s stock valued at $2,275,000 after purchasing an additional 334 shares during the period. Childress Capital Advisors LLC boosted its holdings in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 1,500 shares of the business services provider’s stock worth $415,000 after buying an additional 41 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Automatic Data Processing by 33,258.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 48,704 shares of the business services provider’s stock worth $13,478,000 after buying an additional 48,558 shares during the period. Finally, Trajan Wealth LLC grew its stake in Automatic Data Processing by 22.3% in the 3rd quarter. Trajan Wealth LLC now owns 11,207 shares of the business services provider’s stock valued at $3,101,000 after buying an additional 2,041 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ADP shares. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $293.55.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock valued at $1,617,241 in the last 90 days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

ADP opened at $311.21 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day simple moving average is $299.84 and its 200-day simple moving average is $291.39. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $315.29. The stock has a market capitalization of $126.80 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Automatic Data Processing Company 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.