Standard Life Aberdeen plc grew its stake in Automatic Data Processing (NASDAQ:ADP) by 10.3% during the third quarter, HoldingsChannel.com reports. The firm owned 141,136 shares of the business services provider’s stock after purchasing an additional 13,226 shares during the quarter. Standard Life Aberdeen plc’s holdings in Automatic Data Processing were worth $21,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Automatic Data Processing during the second quarter worth $582,000. Dupont Capital Management Corp bought a new position in Automatic Data Processing during the second quarter worth $585,000. Smith Asset Management Group LP bought a new position in Automatic Data Processing during the second quarter worth $10,191,000. Integrated Investment Consultants LLC bought a new stake in Automatic Data Processing in the second quarter valued at $111,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Automatic Data Processing by 234.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,918 shares of the business services provider’s stock valued at $7,367,000 after purchasing an additional 38,500 shares in the last quarter. 77.93% of the stock is currently owned by institutional investors and hedge funds.

ADP opened at $143.61 on Thursday. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $62.86 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 2.18 and a beta of 0.89.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts predict that Automatic Data Processing will post 5.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a dividend yield of 2.20%. Automatic Data Processing’s payout ratio is presently 63.45%.

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Automatic Data Processing in a research note on Monday, October 1st. They issued a “hold” rating and a $160.00 price target for the company. Moffett Nathanson assumed coverage on shares of Automatic Data Processing in a research note on Thursday, October 4th. They issued a “buy” rating and a $180.00 price target for the company. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Barclays assumed coverage on shares of Automatic Data Processing in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 price target for the company. Finally, Guggenheim assumed coverage on shares of Automatic Data Processing in a research note on Monday, August 20th. They issued a “buy” rating and a $175.00 price target for the company. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Buy” and a consensus target price of $151.19.

In other news, CEO Carlos A. Rodriguez sold 62,228 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $145.59, for a total transaction of $9,059,774.52. Following the completion of the sale, the chief executive officer now directly owns 137,177 shares of the company’s stock, valued at $19,971,599.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael C. Eberhard sold 9,100 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the sale, the vice president now directly owns 48,468 shares of the company’s stock, valued at $7,270,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,948 shares of company stock valued at $25,409,660. 0.33% of the stock is currently owned by insiders.

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About Automatic Data Processing

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

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

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