California State Teachers Retirement System Grows Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

California State Teachers Retirement System boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 676,821 shares of the business services provider’s stock after buying an additional 5,259 shares during the period. California State Teachers Retirement System’s holdings in Automatic Data Processing were worth $198,126,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock valued at $1,807,438,000 after buying an additional 902,354 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in shares of Automatic Data Processing by 6.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 81,665 shares of the business services provider’s stock valued at $23,906,000 after acquiring an additional 5,138 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter valued at $165,000. Susquehanna Fundamental Investments LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at $15,929,000. Finally, Coldstream Capital Management Inc. lifted its position in Automatic Data Processing by 3.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,534 shares of the business services provider’s stock valued at $2,205,000 after purchasing an additional 235 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,775 shares of company stock worth $1,447,893. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Down 0.9 %

NASDAQ ADP opened at $291.76 on Monday. The stock has a market cap of $118.88 billion, a PE ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company’s 50-day moving average price is $299.57 and its 200-day moving average price is $298.52. 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 issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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 given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADP. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday. 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. UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.