Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,237 shares of the business services provider’s stock after acquiring an additional 1,353 shares during the quarter. Westpac Banking Corp’s holdings in Automatic Data Processing were worth $5,646,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ADP. International Assets Investment Management LLC boosted its stake in Automatic Data Processing by 22,539.4% during the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after acquiring an additional 930,199 shares during the last quarter. Invesco Ltd. grew its stake in Automatic Data Processing by 40.7% in the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after purchasing an additional 905,043 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Automatic Data Processing by 65.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock valued at $337,416,000 after buying an additional 555,184 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Automatic Data Processing by 18.3% during the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after buying an additional 553,946 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in Automatic Data Processing during the 3rd quarter worth approximately $107,401,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI raised their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $255.42.

Check Out Our Latest Report on Automatic Data Processing

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,966 shares of company stock valued at $749,524. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

ADP traded up $2.36 on Wednesday, hitting $247.86. 336,537 shares of the stock traded hands, compared to its average volume of 1,725,767. The business has a fifty day moving average price of $245.00 and a two-hundred day moving average price of $239.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $101.45 billion, a PE ratio of 27.59, a P/E/G ratio of 2.35 and a beta of 0.78. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the business posted $2.52 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Automatic Data Processing Company Profile

(Free Report)

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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