Strs Ohio reduced its position in shares of Automatic Data Processing (NASDAQ:ADP) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,420 shares of the business services provider’s stock after selling 1,587 shares during the period. Strs Ohio’s holdings in Automatic Data Processing were worth $32,973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Vanguard Group Inc raised its stake in Automatic Data Processing by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock valued at $5,566,295,000 after purchasing an additional 425,007 shares during the last quarter. BlackRock Inc. raised its stake in Automatic Data Processing by 5.4% during the 4th quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock valued at $4,064,239,000 after purchasing an additional 1,587,214 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Automatic Data Processing by 18,918.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 23,339,116 shares during the last quarter. Lunia Capital LP raised its stake in Automatic Data Processing by 14,251.9% during the 4th quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock valued at $18,368,000 after purchasing an additional 18,239,702 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Automatic Data Processing by 213.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock valued at $1,301,682,000 after purchasing an additional 5,880,242 shares during the last quarter. 80.48% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on ADP shares. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “sell” rating in a research note on Wednesday, January 2nd. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $153.43.

Shares of ADP stock opened at $162.44 on Monday. Automatic Data Processing has a 52-week low of $112.58 and a 52-week high of $164.41. The firm has a market capitalization of $70.76 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.32 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.16. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Automatic Data Processing will post 5.37 earnings per share for the current year.

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 paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is 72.64%.

In related news, CEO Carlos A. Rodriguez sold 36,364 shares of the stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $149.05, for a total transaction of $5,420,054.20. Following the completion of the sale, the chief executive officer now owns 148,842 shares in the company, valued at approximately $22,184,900.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stuart Sackman sold 1,478 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $155.13, for a total transaction of $229,282.14. Following the sale, the vice president now owns 24,122 shares of the company’s stock, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,721 shares of company stock valued at $12,714,980. Corporate insiders own 0.33% of the company’s stock.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Further Reading: Depreciation

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

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