Pictet Asset Management Holding SA Acquires 16,339 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pictet Asset Management Holding SA boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 454,687 shares of the business services provider’s stock after acquiring an additional 16,339 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Automatic Data Processing were worth $133,101,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ADP. AMG National Trust Bank boosted its holdings in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after acquiring an additional 33 shares in the last quarter. Aspiriant LLC raised its position in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares in the last quarter. Riversedge Advisors LLC grew its position in Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 37 shares during the last quarter. Finally, Gilbert & Cook Inc. increased its stake in Automatic Data Processing by 2.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 1.5 %

Automatic Data Processing stock opened at $300.83 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The firm has a market capitalization of $122.58 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 3.62 and a beta of 0.76. The firm has a 50 day moving average of $303.87 and a 200 day moving average of $296.20. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.05%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.