Caprock Group LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Caprock Group LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 55.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,647 shares of the business services provider’s stock after acquiring an additional 7,324 shares during the period. Caprock Group LLC’s holdings in Automatic Data Processing were worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its holdings in shares of Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after purchasing an additional 99,515 shares during the period. Assenagon Asset Management S.A. lifted its stake in Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after acquiring an additional 264,466 shares during the period. SG Americas Securities LLC lifted its stake in Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares during the period. Cornerstone Wealth Group LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at $2,924,000. Finally, LVW Advisors LLC increased its stake in shares of Automatic Data Processing by 23.8% in the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after acquiring an additional 740 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The sale 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 Don Mcguire sold 3,179 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. Insiders have sold a total of 49,614 shares of company stock worth $13,519,460 over the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $269.56 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $256.39 and a 200 day moving average of $249.71. The firm has a market cap of $110.33 billion, a PE ratio of 30.08, a PEG ratio of 3.00 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $278.24.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. As a group, research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADP shares. Bank of America upped their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Finally, Barclays raised their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Company 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.