California Public Employees Retirement System Has $108.03 Million Holdings in Automatic Data Processing (ADP)

California Public Employees Retirement System grew its position in Automatic Data Processing (NYSE:ADP) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,054,366 shares of the business services provider’s stock after purchasing an additional 8,400 shares during the period. California Public Employees Retirement System owned about 0.24% of Automatic Data Processing worth $108,030,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Woodley Farra Manion Portfolio Management Inc. increased its position in shares of Automatic Data Processing by 3.3% during the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 276,281 shares of the business services provider’s stock worth $28,308,000 after acquiring an additional 8,748 shares in the last quarter. MML Investors Services LLC increased its position in shares of Automatic Data Processing by 9.3% during the second quarter. MML Investors Services LLC now owns 19,449 shares of the business services provider’s stock worth $1,993,000 after acquiring an additional 1,652 shares in the last quarter. TIAA FSB bought a new stake in shares of Automatic Data Processing during the second quarter worth $4,597,000. FMR LLC increased its position in shares of Automatic Data Processing by 1.9% during the second quarter. FMR LLC now owns 875,863 shares of the business services provider’s stock worth $89,741,000 after acquiring an additional 16,091 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 2.4% during the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after acquiring an additional 811,960 shares in the last quarter.

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In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Maria Black sold 631 shares of the stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here.

Automatic Data Processing (NYSE ADP) opened at $111.09 on Friday. Automatic Data Processing has a 12-month low of $90.45 and a 12-month high of $121.77.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be paid a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a yield of 2.27%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.87%.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada reissued a “hold” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research report on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Finally, Robert W. Baird reissued a “neutral” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $111.43.

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.

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

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