American International Group Inc. raised its stake in Automatic Data Processing (NASDAQ:ADP) by 40.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 278,816 shares of the business services provider’s stock after acquiring an additional 80,818 shares during the period. American International Group Inc.’s holdings in Automatic Data Processing were worth $44,538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SlateStone Wealth LLC increased its holdings in shares of Automatic Data Processing by 264.4% in the 1st quarter. SlateStone Wealth LLC now owns 12,480 shares of the business services provider’s stock worth $1,994,000 after buying an additional 9,055 shares during the last quarter. Wakefield Asset Management LLLP boosted its stake in shares of Automatic Data Processing by 12,275.0% during the 1st quarter. Wakefield Asset Management LLLP now owns 25,740 shares of the business services provider’s stock worth $4,112,000 after purchasing an additional 25,532 shares during the period. Toronto Dominion Bank boosted its stake in shares of Automatic Data Processing by 15.1% during the 1st quarter. Toronto Dominion Bank now owns 294,204 shares of the business services provider’s stock worth $46,984,000 after purchasing an additional 38,704 shares during the period. Chilton Investment Co. LLC boosted its stake in shares of Automatic Data Processing by 219.8% during the 1st quarter. Chilton Investment Co. LLC now owns 42,413 shares of the business services provider’s stock worth $6,775,000 after purchasing an additional 29,150 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Automatic Data Processing by 1.0% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 244,064 shares of the business services provider’s stock worth $38,987,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 81.20% of the company’s stock.

A number of research firms recently commented on ADP. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Barclays lifted their price target on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Citigroup lifted their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $159.00.

ADP stock opened at $161.34 on Tuesday. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $165.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $69.94 billion, a P/E ratio of 37.09, a PEG ratio of 2.29 and a beta of 0.95.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.08. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 EPS. As a group, research analysts expect that Automatic Data Processing will post 5.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.79 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.16 annualized dividend and a yield of 1.96%. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.

In other Automatic Data Processing news, insider Jan Siegmund sold 27,272 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the completion of the sale, the insider now directly owns 77,595 shares of the company’s stock, valued at approximately $12,803,175. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Stuart Sackman sold 1,478 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the sale, the vice president now directly owns 24,122 shares of the company’s stock, valued at $3,742,045.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,456 shares of company stock valued at $5,010,669. 0.33% of the stock is owned by corporate insiders.

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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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