Mercer Global Advisors Inc. ADV Grows Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mercer Global Advisors Inc. ADV grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,342 shares of the business services provider’s stock after purchasing an additional 1,415 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Automatic Data Processing were worth $8,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Automatic Data Processing by 90.4% during the 3rd quarter. Nordea Investment Management AB now owns 3,068,601 shares of the business services provider’s stock valued at $625,658,000 after buying an additional 1,457,143 shares during the period. UBS Asset Management Americas Inc. increased its stake in Automatic Data Processing by 38.6% during the third quarter. UBS Asset Management Americas Inc. now owns 3,568,467 shares of the business services provider’s stock worth $713,408,000 after acquiring an additional 993,139 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Automatic Data Processing by 2.5% in the 3rd quarter. BlackRock Inc. now owns 31,176,737 shares of the business services provider’s stock worth $6,232,851,000 after purchasing an additional 773,928 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Automatic Data Processing by 115.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,312,277 shares of the business services provider’s stock valued at $262,350,000 after purchasing an additional 703,911 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in Automatic Data Processing in the third quarter valued at approximately $123,551,000. Institutional investors and hedge funds own 78.71% of the company’s stock.

Shares of ADP stock traded up $0.44 on Tuesday, hitting $227.64. 45,868 shares of the stock traded hands, compared to its average volume of 2,050,042. The company’s fifty day moving average is $215.07 and its 200 day moving average is $221.73. Automatic Data Processing, Inc. has a 1-year low of $184.85 and a 1-year high of $248.96. The company has a market capitalization of $95.62 billion, a PE ratio of 35.17, a PEG ratio of 2.80 and a beta of 0.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.04 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADPGet Rating) last released its earnings results on Wednesday, January 26th. The business services provider reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.02. Automatic Data Processing had a net margin of 17.48% and a return on equity of 50.01%. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 6.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $4.16 dividend on an annualized basis and a yield of 1.83%. Automatic Data Processing’s dividend payout ratio is currently 64.40%.

In related news, VP Christopher D’ambrosio sold 329 shares of the stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $206.93, for a total value of $68,079.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Deborah L. Dyson sold 2,787 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $234.55, for a total transaction of $653,690.85. Following the transaction, the vice president now directly owns 26,663 shares of the company’s stock, valued at $6,253,806.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,787 shares of company stock valued at $1,073,466. 0.34% of the stock is currently owned by insiders.

Several research analysts have commented on ADP shares. Robert W. Baird cut their price objective on Automatic Data Processing from $242.00 to $220.00 in a research report on Thursday, January 27th. Stifel Nicolaus restated a “hold” rating and issued a $238.00 price target (up previously from $222.00) on shares of Automatic Data Processing in a report on Friday, March 11th. Cowen dropped their price objective on shares of Automatic Data Processing from $235.00 to $213.00 in a research note on Thursday, January 27th. StockNews.com started coverage on shares of Automatic Data Processing in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Mizuho dropped their price target on shares of Automatic Data Processing from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, February 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $226.93.

About Automatic Data Processing (Get Rating)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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