ProShare Advisors LLC Has $268.39 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

ProShare Advisors LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,124,437 shares of the business services provider’s stock after selling 41,658 shares during the period. Automatic Data Processing accounts for 0.7% of ProShare Advisors LLC’s holdings, making the stock its 17th largest position. ProShare Advisors LLC owned about 0.27% of Automatic Data Processing worth $268,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ADP. TD Asset Management Inc boosted its stake in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Automatic Data Processing by 70.7% in the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after acquiring an additional 264,466 shares during the period. SG Americas Securities LLC grew its stake in shares of Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC bought a new position in Automatic Data Processing during the first quarter worth about $2,924,000. Finally, LVW Advisors LLC boosted its holdings in Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 740 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $276.41 on Friday. The stock has a market cap of $113.13 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day simple moving average of $264.76 and a 200 day simple moving average of $251.56. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54.

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

Automatic Data Processing Dividend Announcement

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

Insider Activity

In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last quarter. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Bank of America raised their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays increased their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Company Profile

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.