Harfst & Associates Inc. Has $486,000 Stake in Automatic Data Processing (ADP)

Harfst & Associates Inc. grew its stake in Automatic Data Processing (NYSE:ADP) by 95.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,744 shares of the business services provider’s stock after buying an additional 2,315 shares during the quarter. Harfst & Associates Inc.’s holdings in Automatic Data Processing were worth $486,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADP. BlackRock Inc. lifted its holdings in shares of Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Automatic Data Processing by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after buying an additional 1,430,863 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Automatic Data Processing by 59.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock valued at $180,972,000 after buying an additional 657,209 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at about $53,405,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Automatic Data Processing by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after buying an additional 485,320 shares during the period.

In other news, VP Maria Black sold 631 shares of the company’s stock in a transaction that occurred on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the sale, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here.

Shares of Automatic Data Processing (NYSE:ADP) opened at $111.09 on Friday. Automatic Data Processing has a 52 week low of $90.45 and a 52 week high of $121.77.

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 40.61% and a net margin of 13.04%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the business earned $0.86 EPS. Automatic Data Processing’s quarterly revenue was up 5.6% on a year-over-year basis.

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 paid a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s payout ratio is 57.87%.

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ADP has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 1st. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price target (up previously from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, Sanford C. Bernstein upped their price target on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $111.43.

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 (NYSE:ADP)

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