ACG Wealth reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 39.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,033 shares of the business services provider’s stock after selling 9,772 shares during the period. ACG Wealth’s holdings in Automatic Data Processing were worth $1,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Automatic Data Processing by 2.4% in the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after acquiring an additional 811,960 shares in the last quarter. BlackRock Inc. boosted its stake in Automatic Data Processing by 0.8% in the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after acquiring an additional 237,439 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Automatic Data Processing by 2.9% in the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after acquiring an additional 190,717 shares in the last quarter. Polen Capital Management LLC boosted its stake in Automatic Data Processing by 6.6% in the second quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after acquiring an additional 411,369 shares in the last quarter. Finally, Fundsmith LLP boosted its stake in Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after acquiring an additional 1,164,972 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Automatic Data Processing (NASDAQ:ADP) opened at $118.64 on Tuesday. The stock has a market cap of $52,416.08, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a fifty-two week low of $94.11 and a fifty-two week high of $121.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $0.86 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts expect that Automatic Data Processing will post 3.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is 64.12%.

Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Royal Bank of Canada restated a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research note on Friday, September 15th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Sanford C. Bernstein raised their target price on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $108.00 target price on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $114.17.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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