Elo Mutual Pension Insurance Co Has $10.90 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Elo Mutual Pension Insurance Co lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,217 shares of the business services provider’s stock after selling 1,682 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Automatic Data Processing were worth $10,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Littlejohn Financial Services Inc. acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $708,000. Nomura Asset Management Co. Ltd. boosted its stake in Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after buying an additional 15,340 shares in the last quarter. Bath Savings Trust Co grew its position in Automatic Data Processing by 2.0% in the fourth quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock valued at $29,068,000 after acquiring an additional 1,951 shares during the period. Principal Financial Group Inc. raised its stake in Automatic Data Processing by 4.5% during the third quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after acquiring an additional 22,766 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Automatic Data Processing by 8.4% during the third quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock valued at $194,117,000 after acquiring an additional 51,828 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Up 1.0 %

ADP opened at $302.41 on Thursday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84. The company has a market cap of $123.22 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $303.59 and a 200 day simple moving average of $295.96.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADP. Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $302.30.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is currently owned by company insiders.

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.