1,297 Shares in Automatic Data Processing (NASDAQ:ADP) Acquired by Toroso Investments LLC

Toroso Investments LLC bought a new position in Automatic Data Processing (NASDAQ:ADP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,297 shares of the business services provider’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Nuveen Asset Management LLC boosted its position in shares of Automatic Data Processing by 40,836.2% in the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock worth $780,281,000 after acquiring an additional 4,708,009 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Automatic Data Processing by 17,208.5% in the second quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock worth $72,921,000 after acquiring an additional 724,995 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Automatic Data Processing by 1.7% in the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after acquiring an additional 644,178 shares during the last quarter. Morgan Stanley boosted its position in shares of Automatic Data Processing by 6.5% in the second quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock worth $1,391,241,000 after acquiring an additional 516,484 shares during the last quarter. Finally, Investec Asset Management LTD boosted its position in shares of Automatic Data Processing by 217.5% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock worth $40,267,000 after acquiring an additional 444,270 shares during the last quarter. 80.26% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on ADP shares. Jefferies Financial Group raised their target price on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Morgan Stanley raised their target price on shares of Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research report on Friday, June 21st. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $176.10.



In other news, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction that occurred 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 sale, the vice president now owns 6,302 shares in the company, valued at $1,057,916.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dermot J. O’brien sold 1,771 shares of Automatic Data Processing stock in a transaction that occurred 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 in the company, valued at approximately $2,413,747.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,846 shares of company stock worth $9,395,534. 0.33% of the stock is currently owned by corporate insiders.

ADP stock traded up $1.65 during midday trading on Wednesday, reaching $161.68. 2,372,084 shares of the company’s stock traded hands, compared to its average volume of 1,967,505. The company has a market capitalization of $69.13 billion, a P/E ratio of 29.66, a PEG ratio of 1.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50. The business has a 50-day moving average price of $165.61 and a two-hundred day moving average price of $162.92.

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 for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. Automatic Data Processing’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, research analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is 57.98%.

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.

Further Reading: What does an equal weight rating mean?

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

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