Border to Coast Pensions Partnership Ltd Has $45.79 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Border to Coast Pensions Partnership Ltd increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 30.6% in the fourth quarter, HoldingsChannel reports. The firm owned 156,533 shares of the business services provider’s stock after purchasing an additional 36,685 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Automatic Data Processing were worth $45,791,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. RDA Financial Network bought a new position in Automatic Data Processing in the 4th quarter valued at $1,508,000. Goldstone Financial Group LLC raised its holdings in shares of Automatic Data Processing by 9.4% in the fourth quarter. Goldstone Financial Group LLC now owns 886 shares of the business services provider’s stock valued at $259,000 after buying an additional 76 shares during the last quarter. Empirical Asset Management LLC raised its holdings in shares of Automatic Data Processing by 71.1% in the fourth quarter. Empirical Asset Management LLC now owns 31,983 shares of the business services provider’s stock valued at $9,362,000 after buying an additional 13,287 shares during the last quarter. JGP Wealth Management LLC grew its holdings in Automatic Data Processing by 0.6% during the 4th quarter. JGP Wealth Management LLC now owns 68,760 shares of the business services provider’s stock worth $20,128,000 after acquiring an additional 405 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Automatic Data Processing by 2.9% during the 4th quarter. Ritholtz Wealth Management now owns 19,446 shares of the business services provider’s stock worth $5,692,000 after acquiring an additional 552 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $296.23 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The firm has a fifty day moving average of $298.24 and a 200-day moving average of $279.45. The firm has a market capitalization of $120.70 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the company earned $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 65.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. UBS Group lifted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In other news, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 over the last quarter. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Company Profile

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.