Rowland & Co. Investment Counsel ADV lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,274 shares of the business services provider’s stock after buying an additional 147 shares during the period. Automatic Data Processing makes up about 3.7% of Rowland & Co. Investment Counsel ADV’s investment portfolio, making the stock its 4th largest holding. Rowland & Co. Investment Counsel ADV’s holdings in Automatic Data Processing were worth $8,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. Madison Investment Holdings Inc. lifted its position in Automatic Data Processing by 0.9% in the first quarter. Madison Investment Holdings Inc. now owns 126,317 shares of the business services provider’s stock worth $12,934,000 after purchasing an additional 1,176 shares during the period. Aberdeen Asset Management PLC UK lifted its position in Automatic Data Processing by 7.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 98,131 shares of the business services provider’s stock worth $10,048,000 after purchasing an additional 6,673 shares during the period. GWM Advisors LLC lifted its position in Automatic Data Processing by 5.1% in the first quarter. GWM Advisors LLC now owns 17,218 shares of the business services provider’s stock worth $1,758,000 after purchasing an additional 828 shares during the period. Evermay Wealth Management LLC lifted its position in Automatic Data Processing by 43.1% in the first quarter. Evermay Wealth Management LLC now owns 2,787 shares of the business services provider’s stock worth $285,000 after purchasing an additional 840 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Automatic Data Processing in the first quarter worth approximately $3,448,000. Institutional investors and hedge funds own 78.41% of the company’s stock.

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $110.21 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing, Inc. has a one year low of $94.11 and a one year high of $121.77. The stock has a market cap of $49,032.22, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 2.83 and a beta of 0.87.

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

The company 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 dividend of $0.63 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s payout ratio is 58.02%.

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

A number of research firms have weighed in on ADP. BMO Capital Markets restated a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company restated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $114.00 target price for the company in a research report on Tuesday, November 14th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, Barclays PLC restated an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and an average price target of $112.37.

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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.

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

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