Watch Point Trust Co trimmed its position in shares of Automatic Data Processing (NASDAQ:ADP) by 39.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,567 shares of the business services provider’s stock after selling 1,000 shares during the period. Watch Point Trust Co’s holdings in Automatic Data Processing were worth $259,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Comerica Securities Inc. grew its holdings in Automatic Data Processing by 411.2% in the 4th quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock valued at $5,611,000 after buying an additional 34,216 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Automatic Data Processing by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock valued at $170,354,000 after buying an additional 49,730 shares during the last quarter. Geode Capital Management LLC grew its holdings in Automatic Data Processing by 8.6% in 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 buying an additional 496,843 shares during the last quarter. First Command Bank grew its holdings in Automatic Data Processing by 7.7% in the 1st quarter. First Command Bank now owns 2,532 shares of the business services provider’s stock valued at $404,000 after buying an additional 180 shares during the last quarter. Finally, BTIM Corp. grew its holdings in Automatic Data Processing by 1.9% in the 1st quarter. BTIM Corp. now owns 697,697 shares of the business services provider’s stock valued at $111,450,000 after buying an additional 13,063 shares during the last quarter. 80.23% of the stock is owned by hedge funds and other institutional investors.
Shares of Automatic Data Processing stock traded up $1.81 during midday trading on Thursday, hitting $165.65. 26,612 shares of the company were exchanged, compared to its average volume of 2,128,594. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.04 and a current ratio of 1.05. The company has a market capitalization of $71.98 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 2.07 and a beta of 0.91. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $172.00. The firm has a 50 day simple moving average of $165.72.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. Automatic Data Processing’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing will post 6.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.91%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.98%.
In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of Automatic Data Processing stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the transaction, the vice president now owns 14,896 shares in the company, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.
A number of analysts have issued reports on ADP shares. Barclays raised their target price on Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird raised their target price on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup raised their price objective on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Jefferies Financial Group raised their price objective on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $174.10.
About Automatic Data Processing
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: Calculate Your Return on Investment (ROI)
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.