SG Americas Securities LLC Has $11.36 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

SG Americas Securities LLC raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 93.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 51,702 shares of the business services provider’s stock after purchasing an additional 24,998 shares during the period. SG Americas Securities LLC’s holdings in Automatic Data Processing were worth $11,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Ten Capital Wealth Advisors LLC boosted its holdings in Automatic Data Processing by 110.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Automatic Data Processing in the 1st quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Automatic Data Processing in the first quarter valued at approximately $31,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $33,000. Finally, Arlington Partners LLC bought a new stake in Automatic Data Processing during the first quarter worth $36,000. 79.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 52,254 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $247.93, for a total transaction of $12,955,334.22. Following the completion of the transaction, the insider now owns 44,859 shares of the company’s stock, valued at approximately $11,121,891.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Carlos A. Rodriguez sold 52,254 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $247.93, for a total value of $12,955,334.22. Following the completion of the transaction, the insider now directly owns 44,859 shares of the company’s stock, valued at $11,121,891.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Maria Black sold 17,326 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $255.03, for a total transaction of $4,418,649.78. Following the sale, the chief executive officer now owns 70,782 shares in the company, valued at $18,051,533.46. The disclosure for this sale can be found here. Insiders sold 170,089 shares of company stock worth $42,719,064 in the last three months. 0.33% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $245.31 on Friday. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $274.92. The firm has a 50 day moving average of $245.84 and a 200 day moving average of $226.62. The company has a market capitalization of $101.07 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.32 and a beta of 0.81. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.85.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 26th. The business services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the company earned $1.50 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 7th. Automatic Data Processing’s dividend payout ratio (DPR) is 60.98%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADP. Royal Bank of Canada initiated coverage on shares of Automatic Data Processing in a research note on Tuesday, September 5th. They issued a “sector perform” rating and a $267.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 22nd. Robert W. Baird upped their price objective on shares of Automatic Data Processing from $235.00 to $270.00 in a research report on Thursday, July 27th. UBS Group began coverage on shares of Automatic Data Processing in a report on Friday, June 2nd. They issued a “neutral” rating and a $230.00 price objective for the company. Finally, Mizuho lifted their target price on shares of Automatic Data Processing from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $249.57.

About Automatic Data Processing

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.