Temasek Holdings Private Ltd Raises Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Temasek Holdings Private Ltd lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,158 shares of the business services provider’s stock after acquiring an additional 21,005 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Automatic Data Processing were worth $45,427,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADP. Tower Wealth Partners Inc. raised its holdings in Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 35 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 36 shares in the last quarter. Petredis Investment Advisors LLC lifted its position in shares of Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 37 shares during the last quarter. Moors & Cabot Inc. grew its stake in Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after purchasing an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC raised its stake in Automatic Data Processing by 4.4% during the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock valued at $255,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $301.80 on Friday. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.63. The firm has a 50-day moving average of $294.67 and a two-hundred day moving average of $269.52. The firm has a market capitalization of $122.97 billion, a PE ratio of 32.21, a P/E/G ratio of 3.53 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $2.08 EPS. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.04%. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADP. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is 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.