Fmr LLC Boosts Position in Automatic Data Processing (ADP)

Fmr LLC boosted its holdings in Automatic Data Processing (NASDAQ:ADP) by 8.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 756,868 shares of the business services provider’s stock after buying an additional 56,414 shares during the period. Fmr LLC owned approximately 0.17% of Automatic Data Processing worth $101,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. HRT Financial LLC purchased a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $827,000. WealthTrust Fairport LLC raised its stake in shares of Automatic Data Processing by 8.2% during the second quarter. WealthTrust Fairport LLC now owns 52,267 shares of the business services provider’s stock valued at $7,011,000 after purchasing an additional 3,953 shares during the period. HM Payson & Co. raised its stake in shares of Automatic Data Processing by 2.1% during the second quarter. HM Payson & Co. now owns 51,215 shares of the business services provider’s stock valued at $6,870,000 after purchasing an additional 1,037 shares during the period. Fundsmith Equity Fund L.P. purchased a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $776,199,000. Finally, City Holding Co. purchased a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $4,617,000. Hedge funds and other institutional investors own 77.94% of the company’s stock.

In other Automatic Data Processing news, VP Michael C. Eberhard sold 9,100 shares of Automatic Data Processing stock in a transaction on Friday, September 21st. The shares were sold at an average price of $150.00, for a total value of $1,365,000.00. Following the completion of the transaction, the vice president now owns 48,468 shares of the company’s stock, valued at $7,270,200. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brock Albinson sold 3,345 shares of Automatic Data Processing stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the transaction, the vice president now directly owns 6,081 shares of the company’s stock, valued at approximately $877,792.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,539 shares of company stock valued at $17,336,818. 0.33% of the stock is currently owned by corporate insiders.

A number of analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Automatic Data Processing in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Credit Suisse Group assumed coverage on shares of Automatic Data Processing in a research note on Friday, August 10th. They issued an “outperform” rating and a $160.00 price target for the company. BMO Capital Markets dropped their price target on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Citigroup lifted their price target on shares of Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. Finally, BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $148.69.

Automatic Data Processing stock opened at $147.19 on Friday. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 2.26 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The firm 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 was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, analysts anticipate that Automatic Data Processing will post 5.26 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s payout ratio is currently 63.45%.

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Automatic Data Processing Profile

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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