1,314 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,314 shares of the business services provider’s stock, valued at approximately $314,000.

Other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in shares of Automatic Data Processing by 6.3% during the second quarter. Hsbc Holdings PLC now owns 1,353,555 shares of the business services provider’s stock valued at $323,308,000 after acquiring an additional 79,809 shares during the period. Elo Mutual Pension Insurance Co lifted its position in Automatic Data Processing by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,770 shares of the business services provider’s stock valued at $9,015,000 after purchasing an additional 188 shares during the last quarter. Waterloo Capital L.P. boosted its stake in Automatic Data Processing by 10.2% during the 2nd quarter. Waterloo Capital L.P. now owns 1,057 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 98 shares during the period. O Brien Greene & Co. Inc grew its position in Automatic Data Processing by 1.2% in the 2nd quarter. O Brien Greene & Co. Inc now owns 17,115 shares of the business services provider’s stock worth $4,085,000 after purchasing an additional 195 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Automatic Data Processing by 24.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 38,611 shares of the business services provider’s stock valued at $9,216,000 after purchasing an additional 7,524 shares during the period. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus increased their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America upped their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $265.36.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Down 0.5 %

NASDAQ ADP opened at $276.41 on Monday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $281.54. The company has a market capitalization of $113.13 billion, a P/E ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79. The company’s 50 day simple moving average is $264.76 and its 200 day simple moving average is $251.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.