Swedbank AB Has $65.01 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Swedbank AB increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,936 shares of the business services provider’s stock after purchasing an additional 85 shares during the period. Swedbank AB owned approximately 0.06% of Automatic Data Processing worth $65,014,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Hexagon Capital Partners LLC raised its holdings in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the third quarter worth $35,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $36,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $40,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The trade was a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,504 shares of company stock valued at $20,298,056 in the last quarter. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADP. UBS Group lifted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $305.15 on Monday. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37. The company has a market cap of $124.34 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.54 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $289.55 and its 200 day simple moving average is $266.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

About Automatic Data Processing

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.