Mutual of America Capital Management LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mutual of America Capital Management LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,325 shares of the business services provider’s stock after selling 1,494 shares during the period. Mutual of America Capital Management LLC’s holdings in Automatic Data Processing were worth $14,459,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADP. Northern Trust Corp grew its stake in shares of Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock valued at $1,807,438,000 after buying an additional 902,354 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after buying an additional 1,299,390 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Automatic Data Processing by 16.7% during the fourth quarter. Ameriprise Financial Inc. now owns 3,830,078 shares of the business services provider’s stock valued at $1,115,909,000 after buying an additional 549,132 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Automatic Data Processing by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,771,011 shares of the business services provider’s stock valued at $1,103,888,000 after buying an additional 532,485 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Automatic Data Processing by 34,655.1% in the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after purchasing an additional 2,892,660 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. UBS Group cut their target price on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a research note on Thursday, July 10th. Stifel Nicolaus raised their target price on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Morgan Stanley raised their target price on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $314.33.

Automatic Data Processing Stock Up 0.7%

Shares of ADP stock opened at $301.64 on Thursday. The stock has a market cap of $122.44 billion, a P/E ratio of 30.22, a PEG ratio of 2.75 and a beta of 0.81. Automatic Data Processing, Inc. has a 52 week low of $258.51 and a 52 week high of $329.93. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $308.93 and its two-hundred day simple moving average is $305.30.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. Automatic Data Processing’s dividend payout ratio is currently 61.72%.

Automatic Data Processing Company 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.