Panagora Asset Management Inc. Grows Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Panagora Asset Management Inc. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,748 shares of the business services provider’s stock after purchasing an additional 1,986 shares during the period. Panagora Asset Management Inc.’s holdings in Automatic Data Processing were worth $3,326,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADP. Morgan Stanley boosted its position in Automatic Data Processing by 4.3% in the 1st quarter. Morgan Stanley now owns 14,243,758 shares of the business services provider’s stock valued at $2,684,521,000 after buying an additional 584,565 shares during the period. Bank of New York Mellon Corp boosted its holdings in Automatic Data Processing by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 13,280,057 shares of the business services provider’s stock valued at $2,502,893,000 after purchasing an additional 197,429 shares during the period. Geode Capital Management LLC grew its stake in Automatic Data Processing by 1.0% during the 1st quarter. Geode Capital Management LLC now owns 7,749,803 shares of the business services provider’s stock worth $1,457,272,000 after purchasing an additional 78,207 shares in the last quarter. Northern Trust Corp increased its holdings in Automatic Data Processing by 0.4% during the 1st quarter. Northern Trust Corp now owns 6,176,508 shares of the business services provider’s stock worth $1,164,086,000 after purchasing an additional 24,040 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Automatic Data Processing by 19.4% in the 1st quarter. Ameriprise Financial Inc. now owns 3,074,158 shares of the business services provider’s stock valued at $579,991,000 after purchasing an additional 498,893 shares in the last quarter. 78.39% of the stock is owned by hedge funds and other institutional investors.

In other Automatic Data Processing news, VP Deborah L. Dyson sold 2,428 shares of the business’s stock in a transaction on Friday, July 9th. The stock was sold at an average price of $202.00, for a total transaction of $490,456.00. Following the sale, the vice president now directly owns 26,614 shares in the company, valued at $5,376,028. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Alexander Quevedo sold 950 shares of the firm’s stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $209.25, for a total value of $198,787.50. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

A number of analysts recently weighed in on the stock. Credit Suisse Group lowered shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $215.00 target price on the stock. in a research note on Monday, August 16th. They noted that the move was a valuation call. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $200.00 to $215.00 and gave the company a “hold” rating in a report on Wednesday, July 28th. Mizuho increased their target price on Automatic Data Processing from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Automatic Data Processing from $192.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Finally, JPMorgan Chase & Co. lowered Automatic Data Processing from a “neutral” rating to an “underweight” rating and set a $224.00 target price on the stock. in a research report on Tuesday, August 17th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $200.92.

Shares of NASDAQ:ADP opened at $202.22 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.07. Automatic Data Processing, Inc. has a one year low of $129.23 and a one year high of $217.15. The company has a 50-day simple moving average of $207.11 and a 200-day simple moving average of $198.52. The stock has a market capitalization of $85.56 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 2.52 and a beta of 0.73.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Automatic Data Processing had a return on equity of 44.73% and a net margin of 17.32%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the firm earned $1.14 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 6.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be paid a dividend of $0.93 per share. The ex-dividend date is Thursday, September 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.84%. Automatic Data Processing’s dividend payout ratio (DPR) is 61.79%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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

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