Automatic Data Processing (ADP) Stake Lessened by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its holdings in Automatic Data Processing (NASDAQ:ADP) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,222 shares of the business services provider’s stock after selling 4,257 shares during the period. Epoch Investment Partners Inc.’s holdings in Automatic Data Processing were worth $25,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADP. Oak Ridge Investments LLC increased its stake in shares of Automatic Data Processing by 6.6% during the third quarter. Oak Ridge Investments LLC now owns 5,591 shares of the business services provider’s stock worth $842,000 after purchasing an additional 348 shares during the period. Atria Investments LLC increased its stake in Automatic Data Processing by 1.3% during the 3rd quarter. Atria Investments LLC now owns 27,201 shares of the business services provider’s stock worth $4,098,000 after acquiring an additional 350 shares during the period. Spearhead Capital Advisors LLC increased its stake in Automatic Data Processing by 0.8% during the 3rd quarter. Spearhead Capital Advisors LLC now owns 47,246 shares of the business services provider’s stock worth $7,054,000 after acquiring an additional 373 shares during the period. Arizona State Retirement System increased its stake in Automatic Data Processing by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 108,581 shares of the business services provider’s stock worth $16,359,000 after acquiring an additional 383 shares during the period. Finally, Windward Capital Management Co. CA increased its stake in Automatic Data Processing by 2.0% during the 3rd quarter. Windward Capital Management Co. CA now owns 19,624 shares of the business services provider’s stock worth $2,957,000 after acquiring an additional 389 shares during the period. 77.93% of the stock is owned by institutional investors.

Shares of ADP stock opened at $139.33 on Friday. The firm has a market capitalization of $62.67 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89. Automatic Data Processing has a fifty-two week low of $107.61 and a fifty-two week high of $153.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.09. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, analysts forecast that Automatic Data Processing will post 5.27 earnings per share for the current year.

The firm also recently announced 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 dividend yield of 2.27%. The ex-dividend date is Thursday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.45%.

In related news, CEO Carlos A. Rodriguez sold 101,620 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $147.46, for a total transaction of $14,984,885.20. Following the sale, the chief executive officer now owns 199,405 shares of the company’s stock, valued at approximately $29,404,261.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael C. Eberhard sold 9,100 shares of the firm’s 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 sale, the vice president now directly owns 48,468 shares in the company, valued at approximately $7,270,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,948 shares of company stock worth $25,409,660. Company insiders own 0.33% of the company’s stock.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. BidaskClub upgraded Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 15th. Guggenheim assumed coverage on Automatic Data Processing in a research note on Monday, August 20th. They set a “buy” rating and a $175.00 price objective on the stock. Barclays assumed coverage on Automatic Data Processing in a research note on Wednesday, November 14th. They set an “overweight” rating and a $168.00 price objective on the stock. Finally, Citigroup raised their price objective on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Buy” and an average price target of $151.19.

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Automatic Data Processing Company 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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