Advisor Partners LLC lifted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 5.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,522 shares of the business services provider’s stock after acquiring an additional 752 shares during the period. Advisor Partners LLC’s holdings in Automatic Data Processing were worth $2,183,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at $56,000. GYL Financial Synergies LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at $257,000. Cerebellum GP LLC grew its holdings in shares of Automatic Data Processing by 458.3% during the 1st quarter. Cerebellum GP LLC now owns 1,072 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 880 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Automatic Data Processing by 10.7% during the 1st quarter. EP Wealth Advisors LLC now owns 2,175 shares of the business services provider’s stock valued at $347,000 after acquiring an additional 211 shares in the last quarter. Finally, B. Riley Wealth Management Inc. purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at $240,000. Institutional investors own 80.38% of the company’s stock.

Several research firms have recently commented on ADP. ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays lifted their price objective on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research note on Friday, June 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $175.67.

Automatic Data Processing stock traded down $0.16 on Thursday, reaching $164.00. 8,374 shares of the stock were exchanged, compared to its average volume of 1,915,208. The stock has a market cap of $70.46 billion, a PE ratio of 30.06, a PEG ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $174.50. The firm has a fifty day moving average price of $162.96 and a two-hundred day moving average price of $163.68.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. Equities analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, September 12th. Automatic Data Processing’s dividend payout ratio is 57.98%.

In other news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the completion of the transaction, the vice president now owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the transaction, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at approximately $21,399,054.60. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Automatic Data Processing 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.

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

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