Eqis Capital Management Inc. boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,533 shares of the business services provider’s stock after buying an additional 303 shares during the period. Eqis Capital Management Inc.’s holdings in Automatic Data Processing were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Automatic Data Processing by 2.9% in the second quarter. BlackRock Inc. now owns 32,146,335 shares of the business services provider’s stock valued at $4,786,267,000 after buying an additional 912,395 shares during the last quarter. Morgan Stanley boosted its position in Automatic Data Processing by 6.5% in the first quarter. Morgan Stanley now owns 11,440,067 shares of the business services provider’s stock valued at $1,563,628,000 after buying an additional 702,522 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Automatic Data Processing by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 10,811,602 shares of the business services provider’s stock valued at $1,609,739,000 after buying an additional 855,564 shares during the last quarter. Nordea Investment Management AB boosted its position in Automatic Data Processing by 115.7% in the second quarter. Nordea Investment Management AB now owns 3,784,376 shares of the business services provider’s stock valued at $556,758,000 after buying an additional 2,030,189 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Automatic Data Processing by 2.2% in the third quarter. California Public Employees Retirement System now owns 2,422,081 shares of the business services provider’s stock valued at $337,856,000 after buying an additional 51,592 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

In other news, CEO Carlos A. Rodriguez sold 52,229 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $136.85, for a total value of $7,147,538.65. Following the completion of the sale, the chief executive officer now owns 116,284 shares of the company’s stock, valued at $15,913,465.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carlos A. Rodriguez sold 37,593 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $172.00, for a total value of $6,465,996.00. Insiders sold 127,459 shares of company stock valued at $19,660,527 over the last quarter. Insiders own 0.34% of the company’s stock.

ADP has been the topic of a number of recent research reports. Cowen lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $150.00 to $143.00 in a research report on Monday, September 21st. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating and set a $146.00 price objective on the stock in a research report on Wednesday, September 30th. Citigroup lowered their price objective on Automatic Data Processing from $148.00 to $144.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday, November 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $138.00 to $151.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. Automatic Data Processing currently has an average rating of “Hold” and an average price target of $159.93.

ADP opened at $171.27 on Friday. The firm has a market cap of $73.44 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.62 and a beta of 0.69. Automatic Data Processing, Inc. has a 52 week low of $103.11 and a 52 week high of $182.32. The business’s 50 day moving average is $155.67 and its two-hundred day moving average is $145.52. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.34.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 28th. The business services provider reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.44. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.29 billion. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. During the same period in the previous year, the business earned $1.34 earnings per share. Equities analysts expect that Automatic Data Processing, Inc. will post 5.64 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 11th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, December 10th. Automatic Data Processing’s payout ratio is 61.49%.

Automatic Data Processing Company Profile

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

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

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