Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,611 shares of the business services provider’s stock after purchasing an additional 7,524 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Automatic Data Processing were worth $9,216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gryphon Financial Partners LLC grew its holdings in Automatic Data Processing by 105.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after buying an additional 1,034 shares during the last quarter. Norges Bank acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $308,321,000. Gladstone Institutional Advisory LLC lifted its position in shares of Automatic Data Processing by 22.6% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 5,231 shares of the business services provider’s stock worth $1,219,000 after buying an additional 966 shares during the period. Corient Private Wealth LLC lifted its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 539,551 shares of the business services provider’s stock worth $125,704,000 after buying an additional 3,666 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $793,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.3 %

NASDAQ ADP opened at $279.41 on Wednesday. The stock has a 50-day simple moving average of $262.31 and a 200 day simple moving average of $250.94. The company has a market capitalization of $114.36 billion, a PE ratio of 31.18, a P/E/G ratio of 3.02 and a beta of 0.79. 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.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate 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 posted $1.89 earnings per share. Research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADP. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price 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. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $265.36.

Insiders Place Their Bets

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

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.