DSM Capital Partners LLC Has $121.49 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

DSM Capital Partners LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 521,461 shares of the business services provider’s stock after selling 1,596 shares during the quarter. Automatic Data Processing comprises approximately 1.9% of DSM Capital Partners LLC’s holdings, making the stock its 20th largest position. DSM Capital Partners LLC’s holdings in Automatic Data Processing were worth $121,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing in the 4th quarter worth $35,000. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $41,000. Raleigh Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the last quarter. Bfsg LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $42,000. Finally, Vestor Capital LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded down $2.59 during mid-day trading on Friday, reaching $248.90. 973,940 shares of the company’s stock were exchanged, compared to its average volume of 1,279,904. The business’s fifty day simple moving average is $246.17 and its two-hundred day simple moving average is $241.31. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The firm has a market capitalization of $101.87 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business earned $2.52 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts anticipate that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho raised their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, TD Cowen dropped their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $255.42.

Check Out Our Latest Stock Analysis on Automatic Data Processing

About Automatic Data Processing

(Free Report)

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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