Toronto Dominion Bank grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,679 shares of the business services provider’s stock after purchasing an additional 30,422 shares during the period. Toronto Dominion Bank’s holdings in Automatic Data Processing were worth $16,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in Automatic Data Processing in the second quarter worth about $102,000. Proficio Capital Partners LLC grew its position in Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Automatic Data Processing in the first quarter worth about $113,000. Grove Bank & Trust grew its position in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. grew its position in Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.

Shares of Automatic Data Processing, Inc. (NASDAQ ADP) opened at $110.02 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $48,792.77, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.82 and a beta of 0.87. Automatic Data Processing, Inc. has a 12 month low of $94.11 and a 12 month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. equities analysts forecast that Automatic Data Processing, Inc. will post 3.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be paid a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.52 annualized dividend and a yield of 2.29%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is presently 58.02%.

In other news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the sale, the vice president now owns 6,287 shares of the company’s stock, valued at $669,816.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the sale, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Several research analysts recently commented on ADP shares. Robert W. Baird reiterated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Sunday, July 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 price target (up previously from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada lifted their price target on Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Finally, Morgan Stanley lowered Automatic Data Processing from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $98.00 to $100.00 in a research report on Thursday, August 3rd. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and an average target price of $112.37.

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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.

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

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