Nisa Investment Advisors LLC Has $31.85 Million Position in Automatic Data Processing (NASDAQ:ADP)

Nisa Investment Advisors LLC boosted its holdings in Automatic Data Processing (NASDAQ:ADP) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,373 shares of the business services provider’s stock after purchasing an additional 1,200 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Automatic Data Processing were worth $31,848,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ronna Sue Cohen lifted its position in Automatic Data Processing by 15,564.1% during the first quarter. Ronna Sue Cohen now owns 3,468,349 shares of the business services provider’s stock valued at $3,468,000 after purchasing an additional 3,446,207 shares during the period. Accredited Investors Inc. raised its position in Automatic Data Processing by 0.9% in the first quarter. Accredited Investors Inc. now owns 52,341 shares of the business services provider’s stock worth $8,361,000 after acquiring an additional 492 shares during the period. Hartwell J M Limited Partnership raised its position in Automatic Data Processing by 31.2% in the first quarter. Hartwell J M Limited Partnership now owns 2,104 shares of the business services provider’s stock worth $336,000 after acquiring an additional 500 shares during the period. BTIM Corp. raised its position in Automatic Data Processing by 1.9% in the first quarter. BTIM Corp. now owns 697,697 shares of the business services provider’s stock worth $111,450,000 after acquiring an additional 13,063 shares during the period. Finally, Spectrum Management Group Inc. raised its position in Automatic Data Processing by 2.9% in the first quarter. Spectrum Management Group Inc. now owns 20,295 shares of the business services provider’s stock worth $3,242,000 after acquiring an additional 565 shares during the period. Institutional investors and hedge funds own 80.53% of the company’s stock.

Several research analysts have weighed in on ADP shares. Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Citigroup increased their price objective on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Barclays increased their price objective on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $159.00.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,706 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total transaction of $281,507.06. Following the transaction, the vice president now owns 26,220 shares of the company’s stock, valued at approximately $4,326,562.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 36,364 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $149.05, for a total transaction of $5,420,054.20. Following the completion of the transaction, the chief executive officer now directly owns 148,842 shares in the company, valued at approximately $22,184,900.10. The disclosure for this sale can be found here. Insiders sold a total of 68,526 shares of company stock valued at $10,687,289 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Shares of NASDAQ:ADP traded up $0.46 on Friday, reaching $161.03. The company’s stock had a trading volume of 1,634,923 shares, compared to its average volume of 1,435,923. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $165.50. The stock has a market capitalization of $70.09 billion, a P/E ratio of 37.02, a PEG ratio of 2.28 and a beta of 0.95. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.38.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.57 EPS. On average, analysts expect that Automatic Data Processing will post 5.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 1.96%. Automatic Data Processing’s dividend payout ratio (DPR) 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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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