Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 216.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,523 shares of the business services provider’s stock after buying an additional 6,517 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Automatic Data Processing were worth $1,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in shares of Automatic Data Processing during the second quarter worth $25,000. Horan Capital Advisors LLC. acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $31,000. Virtus ETF Advisers LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $41,000. MRA Associates USA LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $42,000. Finally, Gradient Investments LLC increased its position in shares of Automatic Data Processing by 126.2% in the 3rd quarter. Gradient Investments LLC now owns 276 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 154 shares during the period. Institutional investors own 80.61% of the company’s stock.

ADP traded up $2.94 during midday trading on Tuesday, hitting $166.36. 1,920,757 shares of the company were exchanged, compared to its average volume of 1,962,786. The company’s 50 day simple moving average is $161.28 and its 200 day simple moving average is $163.77. The firm has a market capitalization of $70.41 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $1.20 EPS. On average, equities analysts anticipate that Automatic Data Processing will post 6.17 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.79. This represents a $3.64 annualized dividend and a yield of 2.19%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.98%.

In other Automatic Data Processing news, VP Brock Albinson sold 6,683 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the sale, the vice president now directly owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total value of $7,986,686.40. Following the sale, the chief executive officer now directly owns 132,338 shares in the company, valued at $21,399,054.60. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

ADP has been the topic of several research reports. Robert W. Baird upped their target price on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Bank of America downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 11th. Cowen initiated coverage on Automatic Data Processing in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 target price on the stock. Morgan Stanley upped their target price on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $185.00 target price on shares of Automatic Data Processing in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $179.56.

About Automatic Data Processing

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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