USS Investment Management Ltd trimmed its position in Automatic Data Processing (NASDAQ:ADP) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,900 shares of the business services provider’s stock after selling 2,800 shares during the period. USS Investment Management Ltd’s holdings in Automatic Data Processing were worth $28,112,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth about $27,000. Horan Capital Advisors LLC. purchased a new position in shares of Automatic Data Processing during the 3rd quarter worth about $31,000. Clear Harbor Asset Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth about $42,000. Savior LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth about $43,000. Finally, Evolution Wealth Advisors LLC lifted its holdings in shares of Automatic Data Processing by 132.7% during the 4th quarter. Evolution Wealth Advisors LLC now owns 263 shares of the business services provider’s stock worth $45,000 after acquiring an additional 150 shares during the period. Institutional investors own 80.12% of the company’s stock.

NASDAQ ADP traded up $1.14 during mid-day trading on Friday, hitting $181.25. The company’s stock had a trading volume of 1,566,513 shares, compared to its average volume of 1,985,642. Automatic Data Processing has a 52-week low of $148.15 and a 52-week high of $181.28. The stock’s fifty day simple moving average is $173.88 and its two-hundred day simple moving average is $167.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $77.44 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.08. Automatic Data Processing had a net margin of 16.97% and a return on equity of 46.96%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm posted $1.34 earnings per share. Automatic Data Processing’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Automatic Data Processing will post 6.17 earnings per share for the current fiscal year.

Automatic Data Processing announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.91 dividend. The ex-dividend date is Thursday, March 12th. This represents a $3.64 annualized dividend and a yield of 2.01%. Automatic Data Processing’s payout ratio is 66.79%.

In other Automatic Data Processing news, VP Don Mcguire sold 326 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $172.07, for a total value of $56,094.82. Following the completion of the sale, the vice president now owns 6,916 shares of the company’s stock, valued at $1,190,036.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald Weinstein sold 2,468 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $180.00, for a total transaction of $444,240.00. Following the completion of the sale, the vice president now directly owns 26,578 shares of the company’s stock, valued at approximately $4,784,040. The disclosure for this sale can be found here. Insiders sold 14,528 shares of company stock worth $2,556,051 in the last 90 days. 0.31% of the stock is currently owned by insiders.

Several brokerages have recently weighed in on ADP. Citigroup increased their price objective on shares of Automatic Data Processing from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Wolfe Research lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. ValuEngine upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Moffett Nathanson lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley raised their price target on shares of Automatic Data Processing from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $186.20.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Read More: Price to Earnings Ratio (PE) Basics

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

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