Prudential PLC Has $4.41 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Prudential PLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,998 shares of the business services provider’s stock after purchasing an additional 668 shares during the quarter. Prudential PLC’s holdings in Automatic Data Processing were worth $4,410,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. MCF Advisors LLC bought a new stake in Automatic Data Processing during the 1st quarter worth about $422,000. Waldron Private Wealth LLC grew its holdings in Automatic Data Processing by 3.8% during the 1st quarter. Waldron Private Wealth LLC now owns 2,510 shares of the business services provider’s stock worth $573,000 after acquiring an additional 93 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Automatic Data Processing by 0.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 190,204 shares of the business services provider’s stock worth $43,279,000 after acquiring an additional 1,262 shares during the last quarter. Prospera Financial Services Inc grew its holdings in Automatic Data Processing by 8.3% during the 1st quarter. Prospera Financial Services Inc now owns 17,779 shares of the business services provider’s stock worth $4,048,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in Automatic Data Processing by 2.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 145,323 shares of the business services provider’s stock worth $28,691,000 after acquiring an additional 3,198 shares during the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADP. Cowen raised their target price on shares of Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday, September 20th. Barclays raised their target price on shares of Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Robert W. Baird raised their target price on shares of Automatic Data Processing to $251.00 in a research note on Tuesday, November 1st. Morgan Stanley raised their target price on shares of Automatic Data Processing from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, October 27th. Finally, Cowen raised their target price on shares of Automatic Data Processing to $237.00 in a research note on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $240.55.

Insider Activity

In other news, CEO Carlos A. Rodriguez sold 58,864 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total value of $13,932,520.16. Following the sale, the chief executive officer now directly owns 44,426 shares in the company, valued at $10,515,189.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Carlos A. Rodriguez sold 58,864 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total value of $13,932,520.16. Following the completion of the transaction, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at $10,515,189.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Laura G. Brown sold 252 shares of Automatic Data Processing stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $228.35, for a total transaction of $57,544.20. Following the transaction, the vice president now directly owns 6,016 shares of the company’s stock, valued at $1,373,753.60. The disclosure for this sale can be found here. Insiders have sold 97,091 shares of company stock worth $23,026,905 over the last ninety days. Insiders own 0.33% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $262.58 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $108.93 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.82. The company’s 50 day moving average price is $237.38 and its two-hundred day moving average price is $230.36. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $264.00.

Automatic Data Processing (NASDAQ:ADPGet Rating) last announced its earnings results on Wednesday, October 26th. The business services provider reported $1.86 EPS for the quarter, topping the consensus estimate of $1.78 by $0.08. Automatic Data Processing had a net margin of 17.93% and a return on equity of 80.50%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the company posted $1.65 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts expect that Automatic Data Processing, Inc. will post 8.13 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.04. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.90%. Automatic Data Processing’s dividend payout ratio (DPR) is 57.54%.

Automatic Data Processing Profile

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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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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