Gofen & Glossberg LLC IL Has $3.29 Million Position in Automatic Data Processing (NASDAQ:ADP)

Gofen & Glossberg LLC IL grew its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,365 shares of the business services provider’s stock after acquiring an additional 600 shares during the period. Gofen & Glossberg LLC IL’s holdings in Automatic Data Processing were worth $3,287,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ADP. CHICAGO TRUST Co NA boosted its position in shares of Automatic Data Processing by 24.1% during the 3rd quarter. CHICAGO TRUST Co NA now owns 6,437 shares of the business services provider’s stock worth $1,039,000 after purchasing an additional 1,250 shares in the last quarter. Ellis Investment Partners LLC boosted its position in shares of Automatic Data Processing by 5.4% during the 3rd quarter. Ellis Investment Partners LLC now owns 4,486 shares of the business services provider’s stock worth $719,000 after purchasing an additional 229 shares in the last quarter. Allworth Financial LP boosted its position in shares of Automatic Data Processing by 9.5% during the 3rd quarter. Allworth Financial LP now owns 1,446 shares of the business services provider’s stock worth $233,000 after purchasing an additional 126 shares in the last quarter. IMS Capital Management boosted its position in shares of Automatic Data Processing by 18.9% during the 3rd quarter. IMS Capital Management now owns 4,100 shares of the business services provider’s stock worth $662,000 after purchasing an additional 651 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Automatic Data Processing by 1.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 48,992 shares of the business services provider’s stock worth $7,908,000 after purchasing an additional 717 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Automatic Data Processing stock opened at $163.06 on Friday. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $174.50. The company’s 50 day moving average price is $163.38 and its two-hundred day moving average price is $163.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The stock has a market cap of $67.80 billion, a P/E ratio of 29.92, a P/E/G ratio of 1.95 and a beta of 0.90.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.94%. Automatic Data Processing’s payout ratio is currently 57.98%.

In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the completion of the sale, the chief executive officer now owns 132,338 shares in the company, valued at approximately $21,399,054.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the sale, the vice president now owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

ADP has been the topic of a number of research analyst reports. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Cowen began coverage on shares of Automatic Data Processing in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 price target on the stock. Morgan Stanley raised their price target on shares of Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $175.67.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Recommended Story: What is the CBOE Russell 2000® Volatility Index?

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.