Ossiam Invests $260,000 in Automatic Data Processing (NASDAQ:ADP)

Ossiam purchased a new position in shares of Automatic Data Processing (NASDAQ:ADP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,570 shares of the business services provider’s stock, valued at approximately $260,000.

Other institutional investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in Automatic Data Processing during the second quarter valued at $25,000. Cypress Capital Management LLC WY raised its position in Automatic Data Processing by 257.1% during the first quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 144 shares in the last quarter. Permanens Capital L.P. purchased a new stake in Automatic Data Processing during the first quarter valued at about $32,000. Mackey Komara & Dankovich LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $33,000. Finally, Lenox Wealth Management Inc. purchased a new stake in Automatic Data Processing during the first quarter valued at about $40,000. 80.22% of the stock is owned by hedge funds and other institutional investors.

In other Automatic Data Processing news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the completion of the transaction, the vice president now owns 6,302 shares in the company, valued at approximately $1,057,916.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the transaction, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.



A number of research analysts have recently issued reports on the company. Cowen began coverage on Automatic Data Processing in a research note on Wednesday. They set an “outperform” rating and a $195.00 price objective on the stock. Bank of America cut Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Wednesday. Barclays lifted their target price on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, August 5th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $176.10.

Shares of NASDAQ ADP traded down $0.75 during midday trading on Thursday, reaching $160.39. The company had a trading volume of 166,065 shares, compared to its average volume of 1,951,626. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $167.45 and its 200 day simple moving average is $162.56. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $174.50. The stock has a market cap of $72.92 billion, a P/E ratio of 29.43, a P/E/G ratio of 2.10 and a beta of 0.90.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. Analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, September 12th. Automatic Data Processing’s payout ratio is currently 57.98%.

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.

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

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