Hartwell J M Limited Partnership Takes $242,000 Position in Automatic Data Processing (ADP)

Hartwell J M Limited Partnership purchased a new stake in shares of Automatic Data Processing (NASDAQ:ADP) in the third quarter, HoldingsChannel.com reports. The fund purchased 1,604 shares of the business services provider’s stock, valued at approximately $242,000.

Other hedge funds also recently bought and sold shares of the company. Fundsmith Equity Fund L.P. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $776,199,000. Millennium Management LLC grew its stake in shares of Automatic Data Processing by 328.6% during the 2nd quarter. Millennium Management LLC now owns 2,221,504 shares of the business services provider’s stock valued at $297,993,000 after buying an additional 1,703,162 shares during the period. Senator Investment Group LP purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $174,382,000. Morgan Stanley grew its stake in shares of Automatic Data Processing by 11.7% during the 2nd quarter. Morgan Stanley now owns 7,671,784 shares of the business services provider’s stock valued at $1,029,094,000 after buying an additional 801,928 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Automatic Data Processing by 48.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,300,258 shares of the business services provider’s stock valued at $308,556,000 after buying an additional 755,124 shares during the period. Institutional investors own 77.89% of the company’s stock.

In other news, insider Michael A. Bonarti sold 2,334 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $144.77, for a total value of $337,893.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael C. Eberhard sold 9,100 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the completion of the transaction, the vice president now owns 48,468 shares of the company’s stock, valued at $7,270,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,919 shares of company stock worth $2,351,933. 0.33% of the stock is owned by company insiders.



ADP has been the subject of several research reports. Zacks Investment Research cut shares of Automatic Data Processing from a “strong-buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Thursday, July 12th. Wolfe Research initiated coverage on shares of Automatic Data Processing in a research note on Tuesday, July 17th. They set an “outperform” rating for the company. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Credit Suisse Group initiated coverage on shares of Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 price target for the company. Finally, Argus upped their price target on shares of Automatic Data Processing from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $144.47.

ADP traded down $1.08 on Monday, hitting $135.27. 188,982 shares of the company’s stock were exchanged, compared to its average volume of 1,843,368. The firm has a market cap of $59.64 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 2.15 and a beta of 0.92. Automatic Data Processing has a twelve month low of $107.61 and a twelve month high of $153.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.58.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, September 13th. This represents a $2.76 annualized dividend and a yield of 2.04%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.45%.

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

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