Ossiam Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ossiam increased its position in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,826 shares of the business services provider’s stock after purchasing an additional 570 shares during the period. Ossiam’s holdings in Automatic Data Processing were worth $1,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its position in Automatic Data Processing by 5.1% in the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after acquiring an additional 288,234 shares during the period. Wellington Management Group LLP increased its position in Automatic Data Processing by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock valued at $1,261,327,000 after acquiring an additional 77,187 shares during the period. Ameriprise Financial Inc. increased its position in Automatic Data Processing by 18.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after acquiring an additional 553,946 shares during the period. Capital Research Global Investors increased its position in Automatic Data Processing by 22.5% in the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after acquiring an additional 649,791 shares during the period. Finally, Invesco Ltd. increased its position in Automatic Data Processing by 40.7% in the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after acquiring an additional 905,043 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Monday. Barclays boosted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho boosted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $255.42.

View Our Latest Report on Automatic Data Processing

Automatic Data Processing Price Performance

ADP stock opened at $246.87 on Tuesday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $245.94 and its 200 day moving average price is $242.64. The firm has a market cap of $101.04 billion, a P/E ratio of 27.55, a PEG ratio of 2.77 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $2.52 EPS. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.17 earnings per share 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. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

About Automatic Data Processing

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADPFree Report).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.