Handelsbanken Fonder AB Buys 11,231 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Handelsbanken Fonder AB increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,874 shares of the business services provider’s stock after buying an additional 11,231 shares during the period. Handelsbanken Fonder AB’s holdings in Automatic Data Processing were worth $50,330,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR increased its position in shares of Automatic Data Processing by 3.6% during the fourth quarter. Stephens Inc. AR now owns 28,829 shares of the business services provider’s stock worth $6,716,000 after acquiring an additional 1,005 shares in the last quarter. Morningstar Investment Services LLC bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $320,000. Prudential PLC raised its stake in shares of Automatic Data Processing by 1.2% in the fourth quarter. Prudential PLC now owns 37,998 shares of the business services provider’s stock worth $8,852,000 after purchasing an additional 466 shares during the last quarter. Veritas Investment Partners UK Ltd. raised its stake in shares of Automatic Data Processing by 18.7% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 634,807 shares of the business services provider’s stock worth $147,905,000 after purchasing an additional 99,892 shares during the last quarter. Finally, Stamos Capital Partners L.P. purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $2,504,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $0.54 during trading on Friday, hitting $285.16. The stock had a trading volume of 1,076,780 shares, compared to its average volume of 1,646,095. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $270.94 and its two-hundred day moving average is $254.02. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $286.30. The stock has a market cap of $116.71 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $267.83.

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.