Trillium Asset Management LLC bought a new stake in Automatic Data Processing (NASDAQ:ADP) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,187 shares of the business services provider’s stock, valued at approximately $353,000.

Several other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its stake in Automatic Data Processing by 40,836.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after purchasing an additional 4,708,009 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in Automatic Data Processing by 17,208.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock worth $72,921,000 after buying an additional 724,995 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Automatic Data Processing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after buying an additional 644,178 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Automatic Data Processing by 222.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 807,822 shares of the business services provider’s stock worth $130,398,000 after buying an additional 557,645 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Automatic Data Processing by 6.5% during the 2nd quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock worth $1,391,241,000 after buying an additional 516,484 shares during the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.

Shares of NASDAQ ADP traded up $0.37 during mid-day trading on Friday, hitting $170.51. The company had a trading volume of 68,396 shares, compared to its average volume of 2,105,719. The stock has a market cap of $71.98 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.08 and a beta of 0.88. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $174.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $161.79 and its two-hundred day simple moving average is $163.83.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.91 per share. The ex-dividend date is Thursday, December 12th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.79. This represents a $3.64 annualized dividend and a dividend yield of 2.13%. Automatic Data Processing’s dividend payout ratio (DPR) is 57.98%.

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. ValuEngine downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Barclays raised their price target on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $179.56.

In related news, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the transaction, the vice president now directly owns 6,302 shares in the company, valued at approximately $1,057,916.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction on 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 completion of the transaction, the chief executive officer now 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.

Automatic Data Processing Company 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.

Further Reading: Profit margin is different from the revenue

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

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