Vanguard Group Inc. Grows Holdings in Automatic Data Processing (NASDAQ:ADP)

Vanguard Group Inc. increased its position in Automatic Data Processing (NASDAQ:ADP) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,214,507 shares of the business services provider’s stock after acquiring an additional 644,178 shares during the quarter. Vanguard Group Inc. owned about 8.78% of Automatic Data Processing worth $6,318,005,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC grew its holdings in shares of Automatic Data Processing by 2.5% in the first quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 67 shares in the last quarter. CX Institutional lifted its position in Automatic Data Processing by 3.0% during the second quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 73 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Automatic Data Processing by 3.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 2,719 shares of the business services provider’s stock worth $434,000 after acquiring an additional 78 shares during the last quarter. Northern Oak Wealth Management Inc. lifted its holdings in shares of Automatic Data Processing by 7.2% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 1,179 shares of the business services provider’s stock worth $195,000 after acquiring an additional 79 shares during the last quarter. Finally, Aft Forsyth & Company Inc. lifted its holdings in shares of Automatic Data Processing by 2.7% in the 2nd quarter. Aft Forsyth & Company Inc. now owns 3,010 shares of the business services provider’s stock worth $498,000 after acquiring an additional 80 shares during the last quarter. 80.26% of the stock is owned by institutional investors.

In related news, VP Dermot J. O’brien sold 1,771 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were 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 directly owns 14,896 shares of the company’s stock, valued at $2,413,747.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the completion of the transaction, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,846 shares of company stock valued at $9,395,534. Insiders own 0.33% of the company’s stock.



Automatic Data Processing stock traded up $0.03 during midday trading on Tuesday, hitting $158.20. The stock had a trading volume of 83,021 shares, compared to its average volume of 1,670,667. The firm’s fifty day moving average is $166.75 and its two-hundred day moving average is $162.68. The company has a market capitalization of $69.32 billion, a PE ratio of 29.00, a P/E/G ratio of 1.99 and a beta of 0.90. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $174.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the firm posted $0.99 EPS. The company’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.98%.

A number of equities analysts recently issued reports on ADP shares. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price objective on the stock in a research note on Friday, June 21st. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Morgan Stanley increased their price objective on shares of 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, ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $176.10.

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.

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

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