Villere ST Denis J & Co. LLC bought a new position in shares of Automatic Data Processing (NASDAQ:ADP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,200 shares of the business services provider’s stock, valued at approximately $459,000.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares during the last quarter. Cedar Capital LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $254,000. Gardiner Nancy B boosted its holdings in Automatic Data Processing by 8.8% in the 2nd quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock valued at $2,153,000 after purchasing an additional 1,705 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Automatic Data Processing in the 1st quarter valued at about $1,447,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Automatic Data Processing by 1.0% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock valued at $3,957,000 after purchasing an additional 380 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $116.02 on Monday. Automatic Data Processing has a 52 week low of $94.11 and a 52 week high of $121.77. The firm has a market cap of $51,453.67, a P/E ratio of 31.02, a P/E/G ratio of 2.87 and a beta of 0.85. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a dividend of $0.63 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is presently 64.12%.

Several research firms have weighed in on ADP. Royal Bank Of Canada reiterated a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a report on Friday, September 15th. Citigroup restated a “neutral” rating and issued a $110.00 price objective (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. BMO Capital Markets restated a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Wednesday, November 8th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $112.37.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/villere-st-denis-j-co-llc-invests-459000-in-automatic-data-processing-adp/1756880.html.

About Automatic Data Processing

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)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.