Mountain Pacific Investment Advisers LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 4.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,906 shares of the business services provider’s stock after purchasing an additional 600 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Automatic Data Processing were worth $3,848,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Vanguard Group Inc. lifted its stake in shares of Automatic Data Processing by 0.4% during the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after purchasing an additional 173,298 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Automatic Data Processing by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after acquiring an additional 249,566 shares during the period. Ameriprise Financial Inc. boosted its holdings 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 worth $964,989,000 after acquiring an additional 435,093 shares during the period. Capital Research Global Investors grew its position in Automatic Data Processing by 2.3% in the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after acquiring an additional 81,869 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Automatic Data Processing by 4.1% during the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after purchasing an additional 139,561 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America increased their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $267.83.
Insider Activity at Automatic Data Processing
In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael A. Bonarti sold 26,442 shares of the company’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 transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This 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 is accessible through this link. Also, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last ninety days. Insiders own 0.26% of the company’s stock.
Automatic Data Processing Trading Up 0.8 %
Shares of ADP stock opened at $287.77 on Thursday. 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, Inc. has a 1 year low of $205.53 and a 1 year high of $288.30. The firm’s fifty day simple moving average is $272.54 and its 200 day simple moving average is $254.80. The firm has a market capitalization of $117.78 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.
Automatic Data Processing Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.
Automatic Data Processing Company Profile
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.
Further Reading
- Five stocks we like better than Automatic Data Processing
- What is a Special Dividend?
- Carnival Has Analysts Going Wild: Here’s Why
- What Is WallStreetBets and What Stocks Are They Targeting?
- Top Income Stocks Offering Big Dividend Yields and Future Growth
- Why is the Ex-Dividend Date Significant to Investors?
- At $43 is it Time to Take Profit with Palantir?
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
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.