Stevens Capital Management LP Makes New $3.89 Million Investment in Automatic Data Processing (NASDAQ:ADP)

Stevens Capital Management LP acquired a new position in shares of Automatic Data Processing (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,509 shares of the business services provider’s stock, valued at approximately $3,887,000.

A number of other large investors have also recently bought and sold shares of ADP. Ronna Sue Cohen lifted its holdings in Automatic Data Processing by 15,564.1% during the 1st quarter. Ronna Sue Cohen now owns 3,468,349 shares of the business services provider’s stock worth $3,468,000 after buying an additional 3,446,207 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in shares of Automatic Data Processing by 17,208.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock valued at $72,921,000 after acquiring an additional 724,995 shares during the last quarter. Ellis Investment Partners LLC raised its position in shares of Automatic Data Processing by 15,521.9% during the 1st quarter. Ellis Investment Partners LLC now owns 708,766 shares of the business services provider’s stock valued at $708,000 after acquiring an additional 704,229 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Automatic Data Processing by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock valued at $819,520,000 after acquiring an additional 496,843 shares during the last quarter. Finally, Investec Asset Management LTD raised its position in shares of Automatic Data Processing by 217.5% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock valued at $40,267,000 after acquiring an additional 444,270 shares during the last quarter. 80.23% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the transaction, the vice president now directly owns 14,896 shares in the company, valued at approximately $2,413,747.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

Several brokerages have commented on ADP. Citigroup upped their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays upped their target price on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Automatic Data Processing has an average rating of “Hold” and an average target price of $174.11.

ADP stock traded down $3.65 during trading hours on Wednesday, reaching $165.06. 25,613 shares of the stock were exchanged, compared to its average volume of 1,979,705. The firm’s 50-day simple moving average is $165.74. The company has a market cap of $73.43 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.04 and a current ratio of 1.05. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the business posted $0.99 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Automatic Data Processing will post 6.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.91%. Automatic Data Processing’s dividend payout ratio is 57.98%.

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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