Prudential PLC Grows Stake in Automatic Data Processing (ADP)

Prudential PLC raised its holdings in Automatic Data Processing (NASDAQ:ADP) by 591.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,397 shares of the business services provider’s stock after acquiring an additional 105,546 shares during the quarter. Prudential PLC’s holdings in Automatic Data Processing were worth $12,643,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake 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 valued at $3,586,099,000 after purchasing an additional 811,960 shares in the last quarter. BlackRock Inc. lifted its position in Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after buying an additional 237,439 shares in the last quarter. Alliancebernstein L.P. lifted its position in Automatic Data Processing by 6.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after buying an additional 485,320 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Automatic Data Processing by 2.9% during 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 during the last quarter. Finally, Polen Capital Management LLC raised its holdings in Automatic Data Processing by 6.6% during 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 during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Automatic Data Processing (NASDAQ ADP) traded up $1.06 during mid-day trading on Monday, reaching $114.81. The company’s stock had a trading volume of 2,913,891 shares, compared to its average volume of 2,890,811. Automatic Data Processing has a twelve month low of $94.11 and a twelve month high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $50,920.00, a PE ratio of 30.41, a P/E/G ratio of 2.91 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates 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 was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. equities research analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.19%. Automatic Data Processing’s dividend payout ratio is currently 57.87%.

A number of analysts have recently commented on ADP shares. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a research note on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a report on Wednesday, August 9th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Finally, Sanford C. Bernstein increased their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $112.37.

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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 (NASDAQ:ADP)

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