Bowen Hanes & Co. Inc. Has $59.86 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bowen Hanes & Co. Inc. lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 204,472 shares of the business services provider’s stock after selling 1,950 shares during the quarter. Automatic Data Processing comprises 1.6% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 28th biggest position. Bowen Hanes & Co. Inc. owned 0.05% of Automatic Data Processing worth $59,855,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ADP. Raymond James Financial Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $342,942,000. Proficio Capital Partners LLC lifted its stake in Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after buying an additional 479,145 shares in the last quarter. Finally, Amundi grew its holdings in shares of Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction 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 sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 in the last 90 days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.6 %

Shares of Automatic Data Processing stock opened at $294.18 on Thursday. The company has a market capitalization of $119.87 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock has a fifty day simple moving average of $302.30 and a 200 day simple moving average of $294.33. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. 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 posted 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%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two research 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $296.18.

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.