Swiss National Bank Sells 149,900 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Swiss National Bank lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,496,400 shares of the business services provider’s stock after selling 149,900 shares during the quarter. Swiss National Bank owned approximately 0.36% of Automatic Data Processing worth $328,894,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ADP. Ten Capital Wealth Advisors LLC grew its position in Automatic Data Processing by 110.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock valued at $26,000 after buying an additional 62 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Automatic Data Processing during the first quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new position in Automatic Data Processing during the first quarter worth about $31,000. Coppell Advisory Solutions Corp. bought a new position in Automatic Data Processing during the fourth quarter worth about $33,000. Finally, Castleview Partners LLC bought a new position in Automatic Data Processing during the first quarter worth about $45,000. Institutional investors own 79.37% of the company’s stock.

Automatic Data Processing Trading Up 0.9 %

Shares of ADP opened at $228.49 on Friday. The firm has a market cap of $93.98 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 2.13 and a beta of 0.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.98. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $274.92. The firm has a 50 day moving average price of $238.94 and a 200-day moving average price of $232.31.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.25. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s payout ratio is presently 59.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of Automatic Data Processing from $235.00 to $270.00 in a research report on Thursday, July 27th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $260.00 to $280.00 and gave the company an “underweight” rating in a research report on Tuesday, August 22nd. Mizuho cut their price objective on shares of Automatic Data Processing from $285.00 to $255.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Finally, Barclays cut their price objective on shares of Automatic Data Processing from $285.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $248.42.

Insider Transactions at Automatic Data Processing

In related news, VP Don Mcguire sold 2,380 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $238.91, for a total transaction of $568,605.80. Following the completion of the sale, the vice president now directly owns 20,665 shares in the company, valued at approximately $4,937,075.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Carlos A. Rodriguez sold 58,864 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $250.42, for a total transaction of $14,740,722.88. Following the completion of the sale, the insider now directly owns 44,859 shares in the company, valued at approximately $11,233,590.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 2,380 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $238.91, for a total transaction of $568,605.80. Following the sale, the vice president now owns 20,665 shares of the company’s stock, valued at $4,937,075.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,420 shares of company stock worth $41,491,937. 0.26% of the stock is currently owned by insiders.

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.