Oregon Public Employees Retirement Fund Grows Stake in Automatic Data Processing (ADP)

Oregon Public Employees Retirement Fund increased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,814 shares of the business services provider’s stock after purchasing an additional 1,317 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Automatic Data Processing were worth $14,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. BlackRock Inc. increased its holdings in Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the last quarter. Cedar Capital LLC purchased a new stake in Automatic Data Processing during the second quarter valued at approximately $254,000. Gardiner Nancy B increased its holdings in Automatic Data Processing by 8.8% during the second quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock valued at $2,153,000 after buying an additional 1,705 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Automatic Data Processing during the first quarter valued at approximately $1,447,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Automatic Data Processing by 1.0% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock valued at $3,957,000 after buying an additional 380 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing (NASDAQ:ADP) opened at $117.02 on Thursday. The firm has a market cap of $51,900.00, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.92 and a beta of 0.86. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The business 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 company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. sell-side analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. Automatic Data Processing’s dividend payout ratio is currently 63.96%.

ADP has been the subject of a number of research reports. Citigroup reaffirmed a “neutral” rating and set a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. Evercore ISI reaffirmed an “in-line” rating and set a $115.00 target price on shares of Automatic Data Processing in a report on Sunday, August 20th. Deutsche Bank reiterated a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a research report on Monday, August 21st. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $114.17.

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Automatic Data Processing Company 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.

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

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