Willis Investment Counsel Has $9.42 Million Stake in Automatic Data Processing (ADP)

Willis Investment Counsel lifted its holdings in Automatic Data Processing (NYSE:ADP) by 71.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,900 shares of the business services provider’s stock after purchasing an additional 38,200 shares during the quarter. Willis Investment Counsel’s holdings in Automatic Data Processing were worth $9,416,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Automatic Data Processing by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after purchasing an additional 811,960 shares in the last quarter. BlackRock Inc. boosted its position in shares of Automatic Data Processing by 0.8% in the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after purchasing an additional 237,439 shares in the last quarter. Alliancebernstein L.P. boosted its position 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 worth $854,515,000 after purchasing an additional 485,320 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Automatic Data Processing by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock worth $696,182,000 after purchasing an additional 190,717 shares in the last quarter. Finally, Polen Capital Management LLC boosted its position in shares of Automatic Data Processing by 6.6% in the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock worth $682,578,000 after purchasing an additional 411,369 shares in the last quarter.

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Automatic Data Processing (ADP) opened at $111.09 on Friday. Automatic Data Processing has a fifty-two week low of $90.45 and a fifty-two week high of $121.77.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is 57.87%.

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

A number of analysts have recently weighed in on ADP shares. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Deutsche Bank AG reissued a “hold” rating and issued a $102.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. Evercore ISI reissued an “in-line” rating and issued a $115.00 price objective on shares of Automatic Data Processing in a research report on Sunday, August 20th. Bank of America Corporation raised their price objective on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, Royal Bank Of Canada lowered their price objective on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $111.43.

Automatic Data Processing 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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