Ninety One UK Ltd Has $586.64 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ninety One UK Ltd cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,518,076 shares of the business services provider’s stock after selling 10,335 shares during the quarter. Automatic Data Processing makes up about 1.7% of Ninety One UK Ltd’s holdings, making the stock its 15th biggest position. Ninety One UK Ltd owned about 0.61% of Automatic Data Processing worth $586,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. OFI Invest Asset Management bought a new stake in Automatic Data Processing in the 3rd quarter valued at $25,000. Coppell Advisory Solutions LLC bought a new stake in Automatic Data Processing in the 2nd quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Automatic Data Processing in the 1st quarter valued at $31,000. Coppell Advisory Solutions Corp. bought a new stake in Automatic Data Processing in the 4th quarter valued at $33,000. Finally, Fortitude Family Office LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $35,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

ADP traded down $0.66 during midday trading on Thursday, hitting $242.24. The company had a trading volume of 337,468 shares, compared to its average volume of 1,803,954. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $99.51 billion, a PE ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The firm’s 50-day simple moving average is $247.54 and its 200-day simple moving average is $239.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.96 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 65.19%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, Mizuho raised their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Two 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, the company presently has an average rating of “Hold” and a consensus price target of $254.58.

Insider Transactions at Automatic Data Processing

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

About Automatic Data Processing

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.