Andra AP fonden raised its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,963 shares of the business services provider’s stock after buying an additional 6,163 shares during the period. Automatic Data Processing comprises 0.7% of Andra AP fonden’s investment portfolio, making the stock its 11th largest position. Andra AP fonden owned 0.07% of Automatic Data Processing worth $31,808,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ADP. BlackRock Inc. raised its stake in shares of Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares during the period. Cedar Capital LLC purchased a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $254,000. Gardiner Nancy B raised its stake in shares of Automatic Data Processing by 8.8% during the second quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock valued at $2,153,000 after purchasing an additional 1,705 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $1,447,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Automatic Data Processing by 1.0% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock valued at $3,957,000 after purchasing an additional 380 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at $116.02 on Monday. 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 has a 12 month low of $94.11 and a 12 month high of $121.77. The firm has a market cap of $51,453.67, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.87 and a beta of 0.85.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the 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 during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current 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 paid a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. This represents a $2.52 annualized dividend and a yield of 2.17%. Automatic Data Processing’s payout ratio is presently 64.12%.
ADP has been the topic of a number of analyst reports. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Sanford C. Bernstein lifted their price objective on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Morgan Stanley upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target for the company in a research note on Tuesday, November 14th. Deutsche Bank restated a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. Finally, Barclays lifted their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $112.37.
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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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