Janus Henderson Group PLC increased its position in Automatic Data Processing (NASDAQ:ADP) by 5,962.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,013,865 shares of the business services provider’s stock after purchasing an additional 3,947,657 shares during the quarter. Janus Henderson Group PLC owned approximately 0.90% of Automatic Data Processing worth $411,260,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ADP. Acrospire Investment Management LLC purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $102,000. Proficio Capital Partners LLC raised its position in shares of Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in Automatic Data Processing in the 1st quarter valued at approximately $113,000. Grove Bank & Trust increased its holdings in Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. increased its holdings in Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.
A number of brokerages recently weighed in on ADP. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company restated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays reissued an “equal weight” rating and set a $105.00 price objective on shares of Automatic Data Processing in a research note on Tuesday, August 15th. Finally, Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $112.37.
Automatic Data Processing (NASDAQ ADP) traded up $0.87 during trading hours on Tuesday, reaching $115.68. 2,295,506 shares of the company traded hands, compared to its average volume of 2,888,267. The firm has a market cap of $50,446.95, a PE ratio of 30.41, a P/E/G ratio of 2.91 and a beta of 0.85. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $121.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.18%. Automatic Data Processing’s dividend payout ratio is presently 58.02%.
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About Automatic Data Processing
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.
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