Robeco Institutional Asset Management B.V. Raises Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Robeco Institutional Asset Management B.V. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,450 shares of the business services provider’s stock after acquiring an additional 61,123 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.08% of Automatic Data Processing worth $104,018,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Main Street Group LTD raised its stake in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares in the last quarter. Abound Wealth Management grew its holdings in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares during the period. Cyrus J. Lawrence LLC raised its position in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares in the last quarter. Banque de Luxembourg S.A. purchased a new position in Automatic Data Processing in the fourth quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

ADP stock opened at $298.19 on Thursday. The stock’s 50 day moving average price is $310.13 and its 200 day moving average price is $303.01. The firm has a market cap of $121.04 billion, a P/E ratio of 30.52, a PEG ratio of 3.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 earnings per share. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADP. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Morgan Stanley upped their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group decreased their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. Finally, Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $307.08.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

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.