Automatic Data Processing (NASDAQ:ADP) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC increased its holdings in Automatic Data Processing (NASDAQ:ADP) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,030 shares of the business services provider’s stock after acquiring an additional 2,306 shares during the period. Private Advisor Group LLC’s holdings in Automatic Data Processing were worth $7,828,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Automatic Data Processing by 18,918.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock worth $179,000 after purchasing an additional 23,339,116 shares in the last quarter. Lunia Capital LP raised its stake in shares of Automatic Data Processing by 14,251.9% during the 4th quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after purchasing an additional 18,239,702 shares in the last quarter. Norges Bank purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $522,489,000. Ronna Sue Cohen raised its stake in shares of 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 purchasing an additional 3,446,207 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Automatic Data Processing by 5.4% during the 4th quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock worth $4,064,239,000 after purchasing an additional 1,587,214 shares in the last quarter. 79.79% of the stock is owned by hedge funds and other institutional investors.

ADP traded down $0.15 during midday trading on Wednesday, reaching $164.96. The company’s stock had a trading volume of 364,814 shares, compared to its average volume of 1,894,200. The firm has a market capitalization of $71.94 billion, a P/E ratio of 37.92, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.38. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $168.87.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the firm earned $1.57 EPS. Automatic Data Processing’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing will post 5.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s payout ratio is presently 72.64%.

In related news, VP Donald Weinstein sold 1,706 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total transaction of $281,507.06. Following the completion of the transaction, the vice president now owns 26,220 shares in the company, valued at approximately $4,326,562.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stuart Sackman sold 1,478 shares of Automatic Data Processing stock in a transaction on Friday, March 15th. The shares were sold at an average price of $155.13, for a total value of $229,282.14. Following the completion of the transaction, the vice president now owns 24,122 shares of the company’s stock, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. Insiders have sold a total of 30,456 shares of company stock worth $5,010,669 in the last three months. 0.33% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Thursday, May 9th. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Barclays raised their price target on Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Sanford C. Bernstein downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Finally, Citigroup raised their price target on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $159.92.

ILLEGAL ACTIVITY WARNING: “Automatic Data Processing (NASDAQ:ADP) Shares Bought by Private Advisor Group LLC” was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://sportsperspectives.com/2019/06/12/automatic-data-processing-nasdaqadp-shares-bought-by-private-advisor-group-llc.html.

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.

Read More: Equity Income

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 (NASDAQ:ADP).

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

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.