Vise Technologies Inc. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the 3rd quarter, Holdings Channel.com reports. The fund bought 27,776 shares of the business services provider’s stock, valued at approximately $7,168,000.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Automatic Data Processing in the second quarter worth $8,097,229,000. Bank of America Corp DE acquired a new stake in Automatic Data Processing during the second quarter worth approximately $1,231,175,000. Deutsche Bank AG acquired a new position in Automatic Data Processing in the second quarter valued at $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Automatic Data Processing by 3.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after buying an additional 129,376 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Automatic Data Processing during the 2nd quarter worth $725,513,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Automatic Data Processing Price Performance
Automatic Data Processing stock opened at $298.78 on Tuesday. The firm has a fifty day moving average of $277.61 and a 200-day moving average of $241.03. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $309.40. The company has a quick ratio of 1.05, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $118.39 billion, a P/E ratio of 26.49, a PEG ratio of 2.58 and a beta of 0.83.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the business posted $2.49 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that Automatic Data Processing, Inc. will post 12.36 EPS for the current year.
Automatic Data Processing Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were given a $1.70 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.3%. Automatic Data Processing’s dividend payout ratio (DPR) is 60.28%.
Insider Buying and Selling
In other Automatic Data Processing news, VP David Kwon sold 798 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the transaction, the vice president owned 13,193 shares in the company, valued at $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 2,927 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $293.70, for a total value of $859,659.90. Following the completion of the sale, the vice president directly owned 14,865 shares of the company’s stock, valued at $4,365,850.50. The trade was a 16.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 34,286 shares of company stock valued at $9,669,082 over the last ninety days. Insiders own 0.15% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on ADP. Citigroup upped their price target on Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. BMO Capital Markets lifted their price target on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $290.00 target price on shares of Automatic Data Processing in a report on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $285.00.
View Our Latest Analysis on ADP
About Automatic Data Processing
Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.
ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.
Founded in 1949, ADP serves businesses in the United States and international markets.
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