Gulf International Bank UK Ltd Has $9.30 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gulf International Bank UK Ltd trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 31,771 shares of the business services provider’s stock after selling 360 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Automatic Data Processing were worth $9,300,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing in the 3rd quarter valued at about $26,000. Dunhill Financial LLC lifted its holdings in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the 3rd quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP stock opened at $311.21 on Thursday. The stock has a 50-day moving average price of $299.84 and a 200-day moving average price of $291.39. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $315.29. The firm has a market cap of $126.80 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADP. TD Cowen boosted 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. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $293.55.

Insider Buying and Selling

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing 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.