Automatic Data Processing (ADP) Stake Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in Automatic Data Processing (NASDAQ:ADP) by 4,772.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,994 shares of the business services provider’s stock after purchasing an additional 225,274 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Automatic Data Processing worth $25,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of ADP. Rhumbline Advisers raised its position in Automatic Data Processing by 2.0% in the 3rd quarter. Rhumbline Advisers now owns 833,613 shares of the business services provider’s stock worth $91,131,000 after buying an additional 16,396 shares during the last quarter. First National Trust Co. raised its position in Automatic Data Processing by 6.0% in the 3rd quarter. First National Trust Co. now owns 46,528 shares of the business services provider’s stock worth $5,086,000 after buying an additional 2,628 shares during the last quarter. Providence First Trust Co purchased a new position in Automatic Data Processing in the 3rd quarter worth about $2,138,000. Toronto Dominion Bank raised its position in Automatic Data Processing by 10.9% in the 3rd quarter. Toronto Dominion Bank now owns 173,785 shares of the business services provider’s stock worth $18,996,000 after buying an additional 17,106 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Automatic Data Processing by 2.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,601,051 shares of the business services provider’s stock worth $175,027,000 after buying an additional 37,789 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the company. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Evercore ISI reaffirmed an “in-line” rating and set a $115.00 price target on shares of Automatic Data Processing in a research report on Sunday, August 20th. Goldman Sachs Group raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.02 to $135.00 in a research report on Monday, December 11th. Finally, Bank of America upped their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $114.17.

Shares of Automatic Data Processing (ADP) opened at $118.19 on Friday. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The company has a market cap of $53,190.00, a PE ratio of 31.14, a PEG ratio of 2.89 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a dividend of $0.63 per share. 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 2.13%. Automatic Data Processing’s payout ratio is 63.96%.

COPYRIGHT VIOLATION WARNING: “Automatic Data Processing (ADP) Stake Boosted by Teacher Retirement System of Texas” was first published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.truebluetribune.com/2017/12/17/automatic-data-processing-adp-stake-boosted-by-teacher-retirement-system-of-texas.html.

Automatic Data Processing Profile

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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply