Capital Research Global Investors Has $873.64 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Research Global Investors lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,839,498 shares of the business services provider’s stock after purchasing an additional 364,087 shares during the quarter. Capital Research Global Investors owned approximately 0.92% of Automatic Data Processing worth $873,639,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 145.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 20,006 shares of the business services provider’s stock worth $4,552,000 after acquiring an additional 11,854 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth about $6,772,000. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth about $28,000. Capital Investment Advisory Services LLC increased its position in shares of Automatic Data Processing by 7.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,701 shares of the business services provider’s stock worth $615,000 after purchasing an additional 178 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Automatic Data Processing by 14.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 19,931 shares of the business services provider’s stock worth $4,916,000 after purchasing an additional 2,486 shares in the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ:ADP opened at $234.48 on Thursday. Automatic Data Processing, Inc. has a one year low of $192.26 and a one year high of $261.59. The company has a 50 day moving average of $238.21 and a 200-day moving average of $224.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $97.43 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 2.53 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company earned $1.20 EPS. Automatic Data Processing’s revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, September 8th. Automatic Data Processing’s payout ratio is 59.34%.

Insider Buying and Selling

In related news, VP Donald Weinstein sold 10,150 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the transaction, the vice president now owns 41,035 shares of the company’s stock, valued at approximately $10,258,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 58,864 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total value of $13,932,520.16. Following the transaction, the chief executive officer now owns 44,426 shares of the company’s stock, valued at $10,515,189.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Donald Weinstein sold 10,150 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the completion of the transaction, the vice president now directly owns 41,035 shares in the company, valued at approximately $10,258,750. The disclosure for this sale can be found here. Insiders have sold 69,755 shares of company stock valued at $16,630,637 in the last 90 days. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ADP shares. Mizuho increased their target price on shares of Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Cowen increased their target price on shares of Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $235.00 to $245.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Wolfe Research lowered their price objective on shares of Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Finally, Barclays raised their price objective on shares of Automatic Data Processing to $280.00 in a research report on Tuesday, August 9th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $235.92.

Automatic Data Processing Company Profile

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

See Also

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

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