New York State Common Retirement Fund Has $162.31 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

New York State Common Retirement Fund decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 586,538 shares of the business services provider’s stock after selling 32,123 shares during the quarter. New York State Common Retirement Fund’s holdings in Automatic Data Processing were worth $162,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter worth about $27,000. Keener Financial Planning LLC grew its stake in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.7 %

NASDAQ:ADP traded down $2.00 during trading hours on Friday, hitting $287.24. 87,698 shares of the company were exchanged, compared to its average volume of 1,628,187. Automatic Data Processing, Inc. has a one year low of $211.52 and a one year high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $117.15 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 3.21 and a beta of 0.79. The company has a fifty day simple moving average of $281.20 and a 200 day simple moving average of $259.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.98 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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 $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last three months. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADP. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada increased their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Citigroup lifted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $282.00.

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.