Desjardins Global Asset Management Inc. Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Desjardins Global Asset Management Inc. boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,239 shares of the business services provider’s stock after acquiring an additional 93 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Automatic Data Processing were worth $522,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ADP. OFI Invest Asset Management bought a new stake in Automatic Data Processing during the third quarter valued at approximately $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $31,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $33,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Finally, Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Trading Down 0.5 %

Automatic Data Processing stock opened at $242.90 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84. The company has a market capitalization of $99.78 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The stock has a 50-day moving average price of $247.54 and a 200 day moving average price of $239.18.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the company posted $1.96 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

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 paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Transactions at Automatic Data Processing

In related news, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was 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 directly 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 other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction on Thursday, February 1st. The stock was 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 of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 in the last three months. 0.26% of the stock is currently owned by company 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.