Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 47.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,944 shares of the business services provider’s stock after acquiring an additional 71,703 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Automatic Data Processing worth $52,172,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ADP. OFI Invest Asset Management purchased a new position in Automatic Data Processing in the 3rd quarter worth about $25,000. Coppell Advisory Solutions LLC purchased a new position in Automatic Data Processing in the 2nd quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Automatic Data Processing in the 1st quarter worth about $31,000. Coppell Advisory Solutions Corp. purchased a new position in Automatic Data Processing in the 4th quarter worth about $33,000. Finally, Fortitude Family Office LLC purchased a new position in Automatic Data Processing in the 4th quarter worth about $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.1 %

ADP opened at $244.21 on Wednesday. The business has a 50 day moving average price of $247.69 and a 200 day moving average price of $239.16. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $100.32 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADP. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $254.58.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock valued at $3,741,859 in the last three months. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Company Profile

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.