Atomi Financial Group Inc. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,170 shares of the business services provider’s stock after acquiring an additional 126 shares during the period. Atomi Financial Group Inc.’s holdings in Automatic Data Processing were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. BlueSpruce Investments LP bought a new position in Automatic Data Processing during the 1st quarter worth about $365,757,000. Nordea Investment Management AB boosted its position in shares of Automatic Data Processing by 27.7% during the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after buying an additional 589,831 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after buying an additional 552,096 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Automatic Data Processing by 242.4% during the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after buying an additional 456,027 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ADP has been the subject of a number of recent research reports. Bank of America upped their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Jefferies Financial Group upped their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $267.83.
Insider Buying and Selling
In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.
Automatic Data Processing Stock Up 0.8 %
ADP stock opened at $287.77 on Thursday. The business’s 50 day simple moving average is $272.03 and its 200 day simple moving average is $254.56. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $288.30. The firm has a market capitalization of $117.78 billion, a PE ratio of 32.12, a PEG ratio of 3.02 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.
Automatic Data Processing Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.
About Automatic Data Processing
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.
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