Balentine LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,398 shares of the business services provider’s stock after purchasing an additional 203 shares during the period. Automatic Data Processing comprises approximately 1.2% of Balentine LLC’s investment portfolio, making the stock its 8th largest holding. Balentine LLC’s holdings in Automatic Data Processing were worth $12,848,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ADP. Acrospire Investment Management LLC purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at approximately $102,000. Proficio Capital Partners LLC lifted its position in shares of Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at approximately $113,000. Grove Bank & Trust lifted its position in shares of Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after buying an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. lifted its position in shares of Automatic Data Processing by 2.5% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $110.56 on Wednesday. Automatic Data Processing, Inc. has a 52 week low of $94.11 and a 52 week high of $121.77. The stock has a market capitalization of $49,018.91, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 2.83 and a beta of 0.87. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts anticipate that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be paid a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.28%. Automatic Data Processing’s dividend payout ratio (DPR) is 58.02%.

In other Automatic Data Processing news, VP Maria Black sold 631 shares of the firm’s stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the sale, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

WARNING: “Automatic Data Processing, Inc. (ADP) Shares Bought by Balentine LLC” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.thecerbatgem.com/2017/11/22/automatic-data-processing-inc-adp-shares-bought-by-balentine-llc.html.

A number of research analysts have recently issued reports on the company. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada increased their target price on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Citigroup Inc. reiterated a “neutral” rating and set a $110.00 target price (up previously from $98.00) on shares of Automatic Data Processing in a research report on Thursday, August 17th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $112.37.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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