Handelsbanken Fonder AB Acquires 671 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Handelsbanken Fonder AB grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,843 shares of the business services provider’s stock after purchasing an additional 671 shares during the quarter. Handelsbanken Fonder AB’s holdings in Automatic Data Processing were worth $44,461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ardent Capital Management Inc. bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $392,000. Americana Partners LLC boosted its position in shares of Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after acquiring an additional 660 shares during the period. Everence Capital Management Inc. boosted its position in shares of Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC boosted its position in shares of Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after acquiring an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $1,635,000. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI raised their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Stock Up 0.5 %

Shares of Automatic Data Processing stock opened at $243.31 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-week high of $256.84. The stock has a market capitalization of $99.95 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.29 and a beta of 0.78. The company’s 50 day moving average price is $247.22 and its 200-day moving average price is $239.19.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

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 $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 65.19%.

Automatic Data Processing 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.