Los Angeles Capital Management & Equity Research Inc. cut its holdings in Automatic Data Processing (NASDAQ:ADP) by 97.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,774 shares of the business services provider’s stock after selling 239,356 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Automatic Data Processing were worth $631,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Acrospire Investment Management LLC bought a new stake in Automatic Data Processing during the second quarter valued at about $102,000. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares during the period. Grove Bank & Trust raised its position in shares of Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after buying an additional 170 shares during the last quarter. Armbruster Capital Management Inc. raised its position in shares of Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after buying an additional 32 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $136,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Automatic Data Processing (ADP) opened at $118.19 on Friday. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. 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 $53,190.00, a PE ratio of 31.14, a P/E/G ratio of 2.89 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly 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 analyst estimates of $3.06 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. analysts expect that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is 63.96%.

A number of research analysts have recently commented on ADP shares. Evercore ISI reaffirmed an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a research report on Sunday, August 20th. Deutsche Bank reaffirmed a “hold” rating and set a $102.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research report on Friday, September 15th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $114.17.

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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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