O Brien Greene & Co. Inc Increases Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

O Brien Greene & Co. Inc lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,115 shares of the business services provider’s stock after buying an additional 195 shares during the quarter. O Brien Greene & Co. Inc’s holdings in Automatic Data Processing were worth $4,085,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its stake in Automatic Data Processing by 24.2% during the 2nd 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 in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Automatic Data Processing by 2.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 43,717 shares of the business services provider’s stock worth $10,435,000 after acquiring an additional 1,171 shares in the last quarter. Argent Trust Co grew its position in shares of Automatic Data Processing by 2.3% in the 2nd quarter. Argent Trust Co now owns 40,470 shares of the business services provider’s stock worth $9,660,000 after acquiring an additional 915 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its position in shares of Automatic Data Processing by 11.1% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 23,390 shares of the business services provider’s stock worth $5,583,000 after acquiring an additional 2,346 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its position in shares of Automatic Data Processing by 1.7% in the 2nd quarter. E Fund Management Co. Ltd. now owns 4,111 shares of the business services provider’s stock worth $981,000 after acquiring an additional 68 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ADP shares. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price 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. Jefferies Financial Group lifted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays boosted 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. Finally, Bank of America boosted 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Stock Up 0.3 %

Shares of Automatic Data Processing stock opened at $279.41 on Wednesday. The business’s fifty day moving average price is $262.31 and its two-hundred day moving average price is $250.94. 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 market capitalization of $114.36 billion, a P/E ratio of 31.18, a PEG ratio of 3.02 and a beta of 0.79. 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 earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for 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 for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.