JustInvest LLC Acquires 1,283 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)


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JustInvest LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,668 shares of the business services provider’s stock after acquiring an additional 1,283 shares during the quarter. JustInvest LLC’s holdings in Automatic Data Processing were worth $2,011,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Morgan Stanley lifted its holdings in Automatic Data Processing by 0.8% in the fourth quarter. Morgan Stanley now owns 13,659,193 shares of the business services provider’s stock valued at $2,406,751,000 after acquiring an additional 107,267 shares during the period. Bank of New York Mellon Corp increased its position in Automatic Data Processing by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 13,082,628 shares of the business services provider’s stock worth $2,305,160,000 after buying an additional 351,860 shares in the last quarter. Alliancebernstein L.P. increased its position in Automatic Data Processing by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 11,156,688 shares of the business services provider’s stock worth $1,965,809,000 after buying an additional 33,162 shares in the last quarter. Wells Fargo & Company MN increased its position in Automatic Data Processing by 1.2% in the fourth quarter. Wells Fargo & Company MN now owns 9,182,431 shares of the business services provider’s stock worth $1,617,943,000 after buying an additional 109,846 shares in the last quarter. Finally, Fundsmith LLP increased its position in Automatic Data Processing by 2.4% in the fourth quarter. Fundsmith LLP now owns 7,087,617 shares of the business services provider’s stock worth $1,248,838,000 after buying an additional 167,702 shares in the last quarter. 79.65% of the stock is currently owned by institutional investors.

ADP has been the subject of a number of analyst reports. Citigroup upped their price target on Automatic Data Processing from $190.00 to $212.00 in a research report on Monday. Morgan Stanley increased their target price on Automatic Data Processing from $171.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 29th. Wells Fargo & Company increased their target price on Automatic Data Processing from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Jefferies Financial Group increased their target price on Automatic Data Processing from $197.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, March 24th. Finally, Evercore ISI lowered Automatic Data Processing from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $197.00 to $143.00 in a research note on Tuesday, January 12th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $174.53.

Shares of NASDAQ:ADP traded up $1.34 on Tuesday, reaching $192.80. The company had a trading volume of 18,172 shares, compared to its average volume of 1,984,989. Automatic Data Processing, Inc. has a 52-week low of $127.31 and a 52-week high of $197.28. The firm’s 50 day simple moving average is $189.77 and its 200-day simple moving average is $174.15. The firm has a market capitalization of $82.51 billion, a PE ratio of 33.24, a PEG ratio of 2.39 and a beta of 0.70. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.34.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.07. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the business posted $1.92 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 5.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 11th will be paid a dividend of $0.93 per share. The ex-dividend date is Thursday, June 10th. This represents a $3.72 annualized dividend and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.84%.

In related news, VP Stuart Sackman sold 576 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $185.00, for a total transaction of $106,560.00. Following the transaction, the vice president now directly owns 23,221 shares in the company, valued at approximately $4,295,885. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Deborah L. Dyson sold 500 shares of the business’s stock in a transaction on Monday, April 12th. The stock was sold at an average price of $188.72, for a total value of $94,360.00. Following the transaction, the vice president now owns 24,686 shares in the company, valued at $4,658,741.92. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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

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