California Public Employees Retirement System grew its holdings in Automatic Data Processing (NASDAQ:ADP) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,124,541 shares of the business services provider’s stock after acquiring an additional 30,891 shares during the quarter. California Public Employees Retirement System’s holdings in Automatic Data Processing were worth $131,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Quadrant Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 0.5% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock worth $458,000 after purchasing an additional 21 shares during the period. PagnatoKarp Partners LLC lifted its holdings in shares of Automatic Data Processing by 1.1% during the second quarter. PagnatoKarp Partners LLC now owns 2,643 shares of the business services provider’s stock worth $272,000 after purchasing an additional 29 shares during the period. South Texas Money Management Ltd. lifted its holdings in shares of Automatic Data Processing by 1.3% during the second quarter. South Texas Money Management Ltd. now owns 2,335 shares of the business services provider’s stock worth $239,000 after purchasing an additional 29 shares during the period. Good Life Advisors LLC lifted its holdings in shares of Automatic Data Processing by 1.7% during the second quarter. Good Life Advisors LLC now owns 2,189 shares of the business services provider’s stock worth $227,000 after purchasing an additional 36 shares during the period. Finally, Carnegie Capital Asset Management LLC lifted its holdings in shares of Automatic Data Processing by 0.4% during the second quarter. Carnegie Capital Asset Management LLC now owns 14,426 shares of the business services provider’s stock worth $1,663,000 after purchasing an additional 52 shares during the period. 78.70% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the company. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Sanford C. Bernstein boosted their price target on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Finally, Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.02 to $135.00 in a report on Monday, December 11th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $118.43.

In other news, VP Donald Weinstein sold 3,242 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total value of $405,250.00. Following the completion of the sale, the vice president now directly owns 28,366 shares in the company, valued at $3,545,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $118.09, for a total value of $11,307,826.04. Following the completion of the sale, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The disclosure for this sale can be found here. Insiders sold 149,767 shares of company stock valued at $17,801,722 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Automatic Data Processing (NASDAQ ADP) opened at $111.43 on Monday. Automatic Data Processing has a twelve month low of $95.50 and a twelve month high of $125.24. The stock has a market capitalization of $49,393.57, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 2.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.10. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. equities research analysts predict that Automatic Data Processing will post 4.17 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.45%.

ILLEGAL ACTIVITY WARNING: “Automatic Data Processing (ADP) Holdings Raised by California Public Employees Retirement System” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/automatic-data-processing-adp-holdings-raised-by-california-public-employees-retirement-system/1860555.html.

Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.