Public Employees Retirement Association of Colorado Has $8.61 Million Holdings in Automatic Data Processing (ADP)

Public Employees Retirement Association of Colorado reduced its position in shares of Automatic Data Processing (NYSE:ADP) by 0.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,011 shares of the business services provider’s stock after selling 383 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Automatic Data Processing were worth $8,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ADP. BlackRock Inc. raised its holdings in Automatic Data Processing by 1,971.2% during the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the last quarter. Vanguard Group Inc. increased its position in Automatic Data Processing by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after purchasing an additional 1,430,863 shares during the period. American Century Companies Inc. increased its position in Automatic Data Processing by 51.1% during the 1st quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock valued at $276,227,000 after purchasing an additional 912,528 shares during the period. APG Asset Management N.V. increased its position in Automatic Data Processing by 59.3% during the 2nd quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock valued at $180,972,000 after purchasing an additional 657,209 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in Automatic Data Processing during the 1st quarter valued at $53,405,000.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the transaction, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here. Insiders sold 45,522 shares of company stock valued at $4,953,609 over the last three months.

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Shares of Automatic Data Processing (NYSE ADP) traded up 1.28% during trading on Friday, hitting $108.16. 1,804,401 shares of the stock traded hands. The firm has a market cap of $48.06 billion and a price-to-earnings ratio of 28.09. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The stock has a 50 day moving average of $107.88 and a 200 day moving average of $103.85.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm earned $0.69 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Automatic Data Processing will post $3.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 7th.

ADP has been the topic of a number of research analyst reports. Argus reduced their price objective on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research report on Wednesday, May 31st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $102.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI reaffirmed an “in-line” rating and issued a $115.00 target price on shares of Automatic Data Processing in a research report on Sunday, August 20th. Finally, BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $107.81.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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