Automatic Data Processing, Inc. (ADP) Stake Raised by Macquarie Group Ltd.

Macquarie Group Ltd. increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,500 shares of the business services provider’s stock after purchasing an additional 4,400 shares during the period. Macquarie Group Ltd.’s holdings in Automatic Data Processing were worth $2,612,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Acrospire Investment Management LLC purchased a new stake in Automatic Data Processing during the second quarter valued at about $102,000. Proficio Capital Partners LLC grew its position in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Automatic Data Processing during the first quarter valued at about $113,000. Grove Bank & Trust grew its position in Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares during the period. Finally, Armbruster Capital Management Inc. grew its position in Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 32 shares during the period. 78.41% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $111.06 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a one year low of $93.95 and a one year high of $121.77. The company has a market capitalization of $49,253.96, a PE ratio of 29.69, a P/E/G ratio of 2.84 and a beta of 0.87.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. analysts forecast that Automatic Data Processing, Inc. will post 3.91 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a $0.63 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.27%. Automatic Data Processing’s payout ratio is 58.02%.

A number of equities research analysts have issued reports on ADP shares. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. BMO Capital Markets lowered their price target on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Morgan Stanley downgraded Automatic Data Processing from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $98.00 to $100.00 in a research report on Thursday, August 3rd. Bank of America Corporation boosted their price target on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $112.37.

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In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the sale, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Maria Black sold 631 shares of the company’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the sale, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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