Automatic Data Processing (ADP) Stake Increased by Nordea Investment Management AB
Nordea Investment Management AB lifted its position in Automatic Data Processing (NASDAQ:ADP) by 43.3% in the 4th quarter, HoldingsChannel reports. The fund owned 556,518 shares of the business services provider’s stock after acquiring an additional 168,274 shares during the quarter. Nordea Investment Management AB’s holdings in Automatic Data Processing were worth $72,970,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. HC Financial Advisors Inc. boosted its holdings in shares of Automatic Data Processing by 56.7% in the 3rd quarter. HC Financial Advisors Inc. now owns 19,655 shares of the business services provider’s stock worth $2,961,000 after buying an additional 7,115 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Automatic Data Processing by 213.1% during the third 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. Bank of New York Mellon Corp lifted its holdings in Automatic Data Processing by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 9,605,668 shares of the business services provider’s stock valued at $1,447,190,000 after purchasing an additional 121,162 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Automatic Data Processing by 180.3% during the third quarter. Martingale Asset Management L P now owns 331,166 shares of the business services provider’s stock valued at $49,894,000 after purchasing an additional 213,011 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in Automatic Data Processing by 8.1% during the third quarter. Rafferty Asset Management LLC now owns 13,194 shares of the business services provider’s stock valued at $1,988,000 after purchasing an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Shares of ADP traded up $1.01 during midday trading on Thursday, hitting $157.80. 6,314 shares of the company traded hands, compared to its average volume of 2,140,788. Automatic Data Processing has a one year low of $111.23 and a one year high of $157.26. The stock has a market cap of $68.05 billion, a PE ratio of 36.29, a P/E/G ratio of 2.24 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.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.
Separately, Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Buy” and a consensus price target of $151.87.
In related news, VP Stuart Sackman sold 1,478 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $155.13, for a total value of $229,282.14. Following the transaction, the vice president now directly owns 24,122 shares in the company, valued at $3,742,045.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brock Albinson sold 4,389 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $129.00, for a total transaction of $566,181.00. Following the completion of the transaction, the vice president now owns 8,144 shares in the company, valued at $1,050,576. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,589 shares of company stock worth $17,276,746. 0.33% of the stock is owned by company insiders.
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.
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