RMR Wealth Builders acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 317 shares of the business services provider’s stock, valued at approximately $47,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Nordea Investment Management AB lifted its holdings in shares of Automatic Data Processing by 115.7% in the second quarter. Nordea Investment Management AB now owns 3,784,376 shares of the business services provider’s stock valued at $556,758,000 after purchasing an additional 2,030,189 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Automatic Data Processing by 26.8% during the first quarter. Alliancebernstein L.P. now owns 9,561,003 shares of the business services provider’s stock valued at $1,306,798,000 after buying an additional 2,021,774 shares in the last quarter. BlackRock Inc. raised its position in Automatic Data Processing by 2.9% during the second quarter. BlackRock Inc. now owns 32,146,335 shares of the business services provider’s stock valued at $4,786,267,000 after buying an additional 912,395 shares during the period. Public Investment Fund lifted its stake in Automatic Data Processing by 158.2% in the 2nd quarter. Public Investment Fund now owns 1,481,837 shares of the business services provider’s stock worth $220,631,000 after acquiring an additional 907,837 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Automatic Data Processing by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,811,602 shares of the business services provider’s stock worth $1,609,739,000 after acquiring an additional 855,564 shares during the period. Institutional investors own 78.77% of the company’s stock.
In other Automatic Data Processing news, VP Brian L. Michaud sold 250 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $145.00, for a total transaction of $36,250.00. Following the transaction, the vice president now owns 5,162 shares in the company, valued at $748,490. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 52,229 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $136.85, for a total value of $7,147,538.65. Following the transaction, the chief executive officer now owns 116,284 shares in the company, valued at approximately $15,913,465.40. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
NASDAQ:ADP traded up $1.79 during trading hours on Wednesday, reaching $138.76. The company’s stock had a trading volume of 32,294 shares, compared to its average volume of 1,966,294. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $58.89 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 2.27 and a beta of 0.75. Automatic Data Processing has a one year low of $103.11 and a one year high of $182.32. The business’s 50-day moving average is $138.06 and its 200-day moving average is $142.01.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.18. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Automatic Data Processing had a return on equity of 46.66% and a net margin of 16.91%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, sell-side analysts predict that Automatic Data Processing will post 5.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.91 dividend. The ex-dividend date is Thursday, September 10th. This represents a $3.64 annualized dividend and a yield of 2.62%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.49%.
A number of equities analysts have recently weighed in on ADP shares. Citigroup dropped their target price on Automatic Data Processing from $148.00 to $144.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Goldman Sachs Group initiated coverage on shares of Automatic Data Processing in a research note on Tuesday, July 14th. They issued a “sell” rating and a $146.00 price objective on the stock. Wolfe Research lowered shares of Automatic Data Processing from a “market perform” rating to an “underperform” rating in a research note on Thursday, July 30th. Stifel Nicolaus decreased their target price on shares of Automatic Data Processing from $155.00 to $142.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Finally, Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “strong sell” rating and set a $112.00 target price for the company. in a research note on Friday, July 31st. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $154.08.
Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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