APG Asset Management N.V. Raises Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

APG Asset Management N.V. boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 486,731 shares of the business services provider’s stock after buying an additional 13,683 shares during the quarter. APG Asset Management N.V. owned 0.12% of Automatic Data Processing worth $108,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gryphon Financial Partners LLC increased its stake in Automatic Data Processing by 105.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock worth $467,000 after buying an additional 1,034 shares during the period. Focus Financial Network Inc. ADV acquired a new position in Automatic Data Processing during the 4th quarter worth $1,470,000. TFO Wealth Partners LLC increased its holdings in Automatic Data Processing by 1,542.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,332 shares of the business services provider’s stock worth $543,000 after purchasing an additional 2,190 shares during the period. Isthmus Partners LLC boosted its stake in shares of Automatic Data Processing by 7.9% in the 4th quarter. Isthmus Partners LLC now owns 2,047 shares of the business services provider’s stock valued at $477,000 after buying an additional 150 shares during the period. Finally, Avestar Capital LLC grew its position in shares of Automatic Data Processing by 43.0% during the fourth quarter. Avestar Capital LLC now owns 1,430 shares of the business services provider’s stock worth $335,000 after buying an additional 430 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing 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 transaction, 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 have sold 58,817 shares of company stock valued at $15,999,208 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ADP has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Down 0.3 %

Shares of NASDAQ ADP opened at $274.43 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54. The stock has a fifty day moving average price of $266.59 and a 200 day moving average price of $252.25. The company has a market cap of $112.32 billion, a P/E ratio of 30.63, a P/E/G ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (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 business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The business’s revenue for the quarter 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 announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.04%. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing 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.