Wellington Management Group LLP Has $1.28 Billion Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wellington Management Group LLP raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,492,425 shares of the business services provider’s stock after buying an additional 249,566 shares during the period. Wellington Management Group LLP’s holdings in Automatic Data Processing were worth $1,279,570,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADP. Fortitude Family Office LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at about $35,000. Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $39,000. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $41,000. Raleigh Capital Management Inc. increased its holdings in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded down $0.25 during mid-day trading on Friday, hitting $242.62. 1,106,921 shares of the stock were exchanged, compared to its average volume of 1,359,823. The stock has a market capitalization of $99.30 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50-day simple moving average is $245.95 and its 200 day simple moving average is $243.08. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.52 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Wall Street Analyst Weigh In

ADP has been the subject of several recent analyst reports. Barclays increased their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. TD Cowen cut their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $255.42.

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.