Norges Bank acquired a new stake in Automatic Data Processing (NASDAQ:ADP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,984,818 shares of the business services provider’s stock, valued at approximately $522,489,000. Norges Bank owned about 0.91% of Automatic Data Processing as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of ADP. Lunia Capital LP boosted its position in Automatic Data Processing by 14,251.9% during the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after purchasing an additional 18,239,702 shares during the period. Fiera Capital Corp boosted its position in Automatic Data Processing by 77.3% during the fourth quarter. Fiera Capital Corp now owns 5,287 shares of the business services provider’s stock worth $693,000 after purchasing an additional 2,305 shares during the period. Stifel Financial Corp boosted its position in Automatic Data Processing by 7.3% during the fourth quarter. Stifel Financial Corp now owns 664,894 shares of the business services provider’s stock worth $87,052,000 after purchasing an additional 45,318 shares during the period. Thrivent Financial for Lutherans boosted its position in Automatic Data Processing by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 330,189 shares of the business services provider’s stock worth $43,385,000 after purchasing an additional 1,376 shares during the period. Finally, Doyle Wealth Management bought a new position in Automatic Data Processing during the fourth quarter worth $148,000. Institutional investors own 80.48% of the company’s stock.
ADP has been the subject of a number of research analyst reports. Zacks Investment Research reaffirmed a “buy” rating and set a $146.00 price objective on shares of Automatic Data Processing in a research report on Monday, December 31st. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $153.43.
Shares of Automatic Data Processing stock traded down $0.41 during trading on Friday, reaching $162.44. The company’s stock had a trading volume of 1,423,818 shares, compared to its average volume of 1,399,786. The stock has a market cap of $70.76 billion, a PE ratio of 37.34, a PEG ratio of 2.32 and a beta of 0.96. Automatic Data Processing has a 52 week low of $112.58 and a 52 week high of $164.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.16. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. Automatic Data Processing’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. Equities research analysts predict that Automatic Data Processing will post 5.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.79 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.95%. Automatic Data Processing’s payout ratio is presently 72.64%.
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Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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