Public Employees Retirement Association of Colorado Decreases Stock Position in Automatic Data Processing (NASDAQ:ADP)

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Public Employees Retirement Association of Colorado lessened its position in Automatic Data Processing (NASDAQ:ADP) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,660 shares of the business services provider’s stock after selling 2,694 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Automatic Data Processing were worth $13,170,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ADP. Comerica Securities Inc. grew its stake in shares of Automatic Data Processing by 411.2% during the 4th quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock valued at $5,611,000 after acquiring an additional 34,216 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Automatic Data Processing by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock valued at $170,354,000 after acquiring an additional 49,730 shares during the period. Geode Capital Management LLC grew its stake in shares of Automatic Data Processing by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock valued at $819,520,000 after acquiring an additional 496,843 shares during the period. First Command Bank grew its stake in shares of Automatic Data Processing by 7.7% during the 1st quarter. First Command Bank now owns 2,532 shares of the business services provider’s stock valued at $404,000 after acquiring an additional 180 shares during the period. Finally, BTIM Corp. grew its stake in shares of Automatic Data Processing by 1.9% during the 1st quarter. BTIM Corp. now owns 697,697 shares of the business services provider’s stock valued at $111,450,000 after acquiring an additional 13,063 shares during the period. Hedge funds and other institutional investors own 80.23% of the company’s stock.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the transaction, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Shares of ADP opened at $164.07 on Thursday. The stock has a market cap of $71.98 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $172.00. The business’s 50 day moving average price is $165.72. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.37.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing will post 6.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.98%.

A number of research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. ValuEngine cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays boosted their price target on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup boosted their price target on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $174.11.

About Automatic Data Processing

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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