Automatic Data Processing (ADP) Position Lifted by Korea Investment CORP

Korea Investment CORP increased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 233,292 shares of the business services provider’s stock after acquiring an additional 10,700 shares during the quarter. Korea Investment CORP owned about 0.05% of Automatic Data Processing worth $25,503,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Automatic Data Processing by 2.4% in the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after buying an additional 811,960 shares in the last quarter. BlackRock Inc. lifted its stake in Automatic Data Processing by 0.8% in the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after buying an additional 237,439 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Automatic Data Processing by 2.9% in the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after buying an additional 190,717 shares in the last quarter. Polen Capital Management LLC lifted its stake in Automatic Data Processing by 6.6% in the second quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after buying an additional 411,369 shares in the last quarter. Finally, Fundsmith LLP lifted its stake in Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after buying an additional 1,164,972 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. Citigroup reaffirmed a “neutral” rating and issued a $110.00 price target (up previously from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research note on Friday, September 15th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $112.37.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $114.81 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a fifty-two week low of $94.11 and a fifty-two week high of $121.77. The stock has a market cap of $50,446.95, a P/E ratio of 30.41, a PEG ratio of 2.91 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts predict that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.19%. Automatic Data Processing’s dividend payout ratio (DPR) is 58.02%.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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