MUFG Securities EMEA plc lowered its position in shares of Automatic Data Processing (NASDAQ:ADP) by 38.2% in the second quarter, Holdings Channel reports. The institutional investor owned 74,600 shares of the business services provider’s stock after selling 46,057 shares during the quarter. MUFG Securities EMEA plc’s holdings in Automatic Data Processing were worth $12,334,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Comerica Securities Inc. grew its stake in shares of 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 purchasing an additional 34,216 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 496,843 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $726,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Automatic Data Processing by 120.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 244,255 shares of the business services provider’s stock valued at $39,017,000 after buying an additional 133,576 shares during the period. Finally, Savant Capital LLC grew its stake in shares of Automatic Data Processing by 4.8% during the 1st quarter. Savant Capital LLC now owns 3,437 shares of the business services provider’s stock valued at $549,000 after buying an additional 158 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.
Automatic Data Processing stock traded down $3.48 during trading on Wednesday, reaching $160.85. 1,142,955 shares of the company’s stock were exchanged, compared to its average volume of 1,569,950. The company’s 50-day moving average is $167.58 and its two-hundred day moving average is $162.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $174.50. The firm has a market cap of $72.92 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.10 and a beta of 0.90.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm 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 firm earned $0.99 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.79 dividend. 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 1.96%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.98%.
ADP has been the topic of several research reports. Cowen started coverage on Automatic Data Processing in a research report on Wednesday. They issued an “outperform” rating and a $195.00 target price on the stock. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a research report on Friday, June 21st. Jefferies Financial Group boosted their price target on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Morgan Stanley upped their price target on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $176.10.
In related news, VP Dermot J. O’brien sold 1,771 shares of Automatic Data Processing stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the sale, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the sale, the vice president now directly owns 6,302 shares in the company, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
Automatic Data Processing 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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