BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $93.89 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 393,368 shares of the business services provider’s stock after purchasing an additional 38,167 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.10% of Automatic Data Processing worth $93,893,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ADP. BlueSpruce Investments LP acquired a new stake in Automatic Data Processing during the 1st quarter valued at approximately $365,757,000. Norges Bank acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $308,321,000. Capital Research Global Investors raised its stake in 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 buying an additional 649,791 shares during the last quarter. Nordea Investment Management AB raised its stake in Automatic Data Processing by 27.7% during the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after buying an additional 589,831 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Automatic Data Processing by 238.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after buying an additional 552,096 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADP. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. TD Cowen lowered their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $265.36.

Automatic Data Processing Stock Up 0.9 %

ADP traded up $2.55 during trading on Friday, hitting $275.91. 1,548,069 shares of the company’s stock were exchanged, compared to its average volume of 1,644,018. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $276.77. The stock has a market cap of $112.93 billion, a P/E ratio of 30.79, a PEG ratio of 2.72 and a beta of 0.78. The business’s 50 day moving average is $252.73 and its two-hundred day moving average is $248.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Buying and Selling

In other news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

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.