Hartford Investment Management Co. grew its position in Automatic Data Processing (NASDAQ:ADP) by 7.2% during the 3rd quarter, Holdings Channel reports. The firm owned 70,107 shares of the business services provider’s stock after purchasing an additional 4,691 shares during the period. Hartford Investment Management Co.’s holdings in Automatic Data Processing were worth $10,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Trust LLC acquired a new position in shares of Automatic Data Processing in the second quarter valued at approximately $104,000. Integrated Investment Consultants LLC acquired a new position in shares of Automatic Data Processing in the second quarter valued at approximately $111,000. Willingdon Wealth Management grew its position in shares of Automatic Data Processing by 328.5% in the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 657 shares during the last quarter. Jolley Asset Management LLC acquired a new position in shares of Automatic Data Processing in the second quarter valued at approximately $117,000. Finally, Fort L.P. acquired a new position in shares of Automatic Data Processing in the second quarter valued at approximately $119,000. 78.14% of the stock is currently owned by institutional investors.

Shares of ADP stock opened at $142.69 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $63.11 billion, a P/E ratio of 32.80, a P/E/G ratio of 2.19 and a beta of 0.91. Automatic Data Processing has a 1 year low of $107.61 and a 1 year high of $153.51.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.09. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts predict that Automatic Data Processing will post 5.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a yield of 2.21%. Automatic Data Processing’s dividend payout ratio is presently 63.45%.

In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,334 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $144.77, for a total transaction of $337,893.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carlos A. Rodriguez sold 101,620 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $147.46, for a total value of $14,984,885.20. Following the sale, the chief executive officer now owns 199,405 shares of the company’s stock, valued at $29,404,261.30. The disclosure for this sale can be found here. Insiders have sold 117,539 shares of company stock valued at $17,336,818 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Several equities analysts have recently commented on the company. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. BMO Capital Markets cut their price target on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Barclays began coverage on Automatic Data Processing in a research note on Wednesday. They issued an “overweight” rating for the company. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Finally, Citigroup boosted their price target on Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $148.69.

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Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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