Fundsmith LLP boosted its stake in shares of Automatic Data Processing (NYSE:ADP) by 15.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,336,791 shares of the company’s stock after buying an additional 437,236 shares during the period. Automatic Data Processing makes up about 4.9% of Fundsmith LLP’s portfolio, making the stock its 14th largest position. Fundsmith LLP owned approximately 0.73% of Automatic Data Processing worth $306,551,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Zions Bancorporation increased its position in Automatic Data Processing by 228.5% in the second quarter. Zions Bancorporation now owns 1,189 shares of the company’s stock valued at $110,000 after buying an additional 827 shares during the period. Cornerstone Advisors Inc. increased its position in shares of Automatic Data Processing by 406.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,246 shares of the company’s stock valued at $114,000 after buying an additional 1,000 shares during the period. Hanson McClain Inc. increased its position in shares of Automatic Data Processing by 2.0% in the second quarter. Hanson McClain Inc. now owns 1,287 shares of the company’s stock valued at $118,000 after buying an additional 25 shares during the period. Pinkerton Retirement Specialists LLC acquired a new position in shares of Automatic Data Processing during the second quarter valued at $133,000. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of Automatic Data Processing during the second quarter valued at $202,000.

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

Shares of Automatic Data Processing (NYSE:ADP) opened at 91.09 on Monday. The firm has a market cap of $41.10 billion and a PE ratio of 27.26. Automatic Data Processing has a 52 week low of $76.65 and a 52 week high of $96.00. The stock’s 50 day moving average is $88.06 and its 200-day moving average is $89.09.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Wednesday, November 2nd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Automatic Data Processing’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, equities analysts predict that Automatic Data Processing will post $3.66 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be paid a dividend of $0.57 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.53. The ex-dividend date is Wednesday, December 7th. This represents a $2.28 annualized dividend and a yield of 2.50%.

Several equities analysts recently weighed in on ADP shares. BMO Capital Markets reiterated a “hold” rating on shares of Automatic Data Processing in a report on Thursday, November 3rd. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $93.00 price target on shares of Automatic Data Processing in a report on Friday, July 29th. Citigroup Inc. reiterated a “neutral” rating and issued a $90.00 price target (up previously from $89.00) on shares of Automatic Data Processing in a report on Friday, July 29th. Robert W. Baird downgraded shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price target on the stock. in a report on Friday, July 29th. Finally, Wedbush started coverage on shares of Automatic Data Processing in a report on Thursday, September 8th. They issued a “neutral” rating and a $100.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $95.14.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $89.91, for a total value of $899,100.00. Following the completion of the sale, the chief executive officer now owns 119,877 shares in the company, valued at $10,778,141.07. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jan Siegmund sold 6,592 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $89.20, for a total value of $588,006.40. Following the completion of the sale, the insider now owns 52,193 shares of the company’s stock, valued at approximately $4,655,615.60. The disclosure for this sale can be found here.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.

5 Day Chart for NYSE:ADP

Receive News & Stock Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related stocks with our FREE daily email newsletter.