Migdal Insurance & Financial Holdings Ltd. lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,148 shares of the business services provider’s stock after selling 795 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Automatic Data Processing were worth $421,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in Automatic Data Processing by 985.2% during the first quarter. Private Advisor Group LLC now owns 356,179 shares of the business services provider’s stock valued at $9,694,000 after purchasing an additional 323,359 shares in the last quarter. Delta Lloyd NV raised its stake in Automatic Data Processing by 14.5% during the first quarter. Delta Lloyd NV now owns 40,444 shares of the business services provider’s stock valued at $4,226,000 after purchasing an additional 5,125 shares in the last quarter. Madison Investment Holdings Inc. raised its stake in Automatic Data Processing by 0.9% during the first quarter. Madison Investment Holdings Inc. now owns 126,317 shares of the business services provider’s stock valued at $12,934,000 after purchasing an additional 1,176 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in Automatic Data Processing by 7.3% during the first quarter. Aberdeen Asset Management PLC UK now owns 98,131 shares of the business services provider’s stock valued at $10,048,000 after purchasing an additional 6,673 shares in the last quarter. Finally, GWM Advisors LLC raised its stake in Automatic Data Processing by 5.1% during the first quarter. GWM Advisors LLC now owns 17,218 shares of the business services provider’s stock valued at $1,758,000 after purchasing an additional 828 shares in the last quarter. 78.41% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing, Inc. (ADP) opened at $110.53 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $49,010.00, a PE ratio of 29.69, a PEG ratio of 2.84 and a beta of 0.88. Automatic Data Processing, Inc. has a 1-year low of $94.11 and a 1-year high of $121.77.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.28%. Automatic Data Processing’s dividend payout ratio is presently 57.87%.

In other news, VP Maria Black sold 631 shares of the company’s stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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A number of equities research analysts recently issued reports on ADP shares. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Argus upped their price target on shares of Automatic Data Processing from $118.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Monday, October 16th. Morgan Stanley raised shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target on the stock in a research note on Tuesday, November 14th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a research note on Tuesday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $112.37.

Automatic Data Processing 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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