Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lowered its position in shares of Automatic Data Processing (NASDAQ:ADP) by 14.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,100 shares of the business services provider’s stock after selling 9,800 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Automatic Data Processing were worth $7,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Rikoon Group LLC boosted its position in shares of Automatic Data Processing by 10.5% during the 1st quarter. Rikoon Group LLC now owns 3,990 shares of the business services provider’s stock worth $452,000 after purchasing an additional 379 shares in the last quarter. Pensionfund Sabic bought a new position in shares of Automatic Data Processing during the 2nd quarter worth about $2,750,000. Pensionfund DSM Netherlands bought a new position in shares of Automatic Data Processing during the 2nd quarter worth about $3,595,000. Park National Corp OH boosted its position in shares of Automatic Data Processing by 0.9% during the 2nd quarter. Park National Corp OH now owns 367,536 shares of the business services provider’s stock worth $49,301,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Automatic Data Processing by 4.6% during the 2nd quarter. Private Trust Co. NA now owns 9,237 shares of the business services provider’s stock worth $1,239,000 after purchasing an additional 406 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ADP opened at $147.46 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $64.46 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.51 and a beta of 0.91. Automatic Data Processing has a 52 week low of $106.25 and a 52 week high of $147.94.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.29 billion. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. equities analysts forecast that Automatic Data Processing will post 5.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.76 annualized dividend and a yield of 1.87%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.45%.

In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,372 shares of the stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $132.66, for a total value of $314,669.52. Following the completion of the sale, the insider now owns 41,023 shares in the company, valued at approximately $5,442,111.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brock Albinson sold 3,345 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the sale, the vice president now owns 6,081 shares of the company’s stock, valued at approximately $877,792.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,191 shares of company stock valued at $1,301,603. Company insiders own 0.25% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Monday, May 21st. Argus upped their target price on shares of Automatic Data Processing from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, June 4th. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $126.00 to $148.00 and gave the stock a “hold” rating in a report on Wednesday, June 6th. Wedbush upped their target price on shares of Automatic Data Processing from $101.25 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, June 13th. Finally, BMO Capital Markets upped their target price on shares of Automatic Data Processing from $126.00 to $138.00 and gave the stock a “market perform” rating in a report on Wednesday, June 13th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Buy” and an average target price of $141.07.

About Automatic Data Processing

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: NASDAQ Stock Market Explained

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

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