Farmers & Merchants Investments Inc. grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,125 shares of the business services provider’s stock after acquiring an additional 4,955 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Automatic Data Processing were worth $4,714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after buying an additional 811,960 shares during the last quarter. BlackRock Inc. grew its stake in Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after buying an additional 237,439 shares during the last quarter. Alliancebernstein L.P. grew its stake in Automatic Data Processing by 6.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after buying an additional 485,320 shares during the last quarter. Wells Fargo & Company MN grew its stake in Automatic Data Processing by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock worth $696,182,000 after buying an additional 190,717 shares during the last quarter. Finally, Polen Capital Management LLC grew its stake in Automatic Data Processing by 6.6% during the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock worth $682,578,000 after buying an additional 411,369 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $113.75 on Friday. Automatic Data Processing, Inc. has a 12 month low of $94.11 and a 12 month high of $121.77. The firm has a market capitalization of $50,761.83, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. 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 posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. equities research analysts predict that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $0.63 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 58.02%.

A number of research analysts recently issued reports on ADP shares. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Deutsche Bank restated a “hold” rating and set a $102.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday, November 15th. Evercore ISI restated an “in-line” rating and set a $115.00 price target on shares of Automatic Data Processing in a research note on Sunday, August 20th. Finally, Bank of America raised their price target on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $112.37.

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Automatic Data Processing Profile

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)

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