Fisher Asset Management LLC Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fisher Asset Management LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,417 shares of the business services provider’s stock after selling 88 shares during the quarter. Fisher Asset Management LLC’s holdings in Automatic Data Processing were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $308,321,000. International Assets Investment Management LLC boosted its holdings in shares of Automatic Data Processing by 22,539.4% during the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after buying an additional 930,199 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 22.5% during the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after buying an additional 649,791 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Automatic Data Processing by 18.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after buying an additional 553,946 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $74,595,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ADP shares. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Barclays upped their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. TD Cowen dropped their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Trading Up 0.8 %

NASDAQ ADP opened at $247.97 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market cap of $101.49 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The company has a 50 day moving average price of $245.89 and a 200 day moving average price of $243.56. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.52 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed 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 2.26%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

About Automatic Data Processing

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.