Fayez Sarofim & Co. lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,078,381 shares of the business services provider’s stock after selling 4,953 shares during the period. Fayez Sarofim & Co. owned 0.24% of Automatic Data Processing worth $117,888,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Cipher Capital LP bought a new stake in Automatic Data Processing in the 3rd quarter valued at $597,000. Sowell Financial Services LLC bought a new stake in Automatic Data Processing in the 3rd quarter valued at $200,000. Oak Ridge Investments LLC raised its stake in Automatic Data Processing by 110.3% in the 3rd quarter. Oak Ridge Investments LLC now owns 4,804 shares of the business services provider’s stock valued at $525,000 after acquiring an additional 2,520 shares during the period. Marble Harbor Investment Counsel LLC raised its stake in Automatic Data Processing by 1.5% in the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 158,631 shares of the business services provider’s stock valued at $17,342,000 after acquiring an additional 2,350 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Automatic Data Processing in the 3rd quarter valued at $1,416,000. Institutional investors own 78.62% of the company’s stock.

Automatic Data Processing (NASDAQ ADP) opened at $117.86 on Thursday. 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 has a 1-year low of $94.11 and a 1-year high of $121.77. The company has a market capitalization of $52,491.44, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating 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 firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is currently 64.12%.

ADP has been the topic of a number of research analyst reports. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target on the stock in a research note on Tuesday, November 14th. Sanford C. Bernstein increased their price target on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Finally, Barclays increased their price target on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $114.14.

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Automatic Data Processing Company 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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