Border to Coast Pensions Partnership Ltd Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Border to Coast Pensions Partnership Ltd boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 119,848 shares of the business services provider’s stock after acquiring an additional 5,113 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Automatic Data Processing were worth $33,069,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $12,375,000. Harbor Investment Advisory LLC grew its stake in Automatic Data Processing by 4.5% during the first quarter. Harbor Investment Advisory LLC now owns 4,302 shares of the business services provider’s stock valued at $1,074,000 after acquiring an additional 186 shares in the last quarter. Riverview Trust Co bought a new stake in Automatic Data Processing during the 1st quarter worth approximately $135,000. Bourne Lent Asset Management Inc. purchased a new stake in Automatic Data Processing in the 1st quarter worth approximately $212,000. Finally, Evanson Asset Management LLC bought a new position in Automatic Data Processing in the 1st quarter valued at $213,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Citigroup raised their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America boosted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Stock Performance

Shares of ADP stock traded down $1.25 during trading hours on Monday, reaching $291.04. 307,398 shares of the company traded hands, compared to its average volume of 1,629,694. The firm has a 50-day moving average price of $276.64 and a 200 day moving average price of $256.99. The company has a market cap of $119.12 billion, a P/E ratio of 32.46, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.92%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

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.