Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Burney Co.

Burney Co. boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,794 shares of the business services provider’s stock after purchasing an additional 83 shares during the quarter. Burney Co.’s holdings in Automatic Data Processing were worth $1,933,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in Automatic Data Processing by 103,224.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 44,739,436 shares of the business services provider’s stock valued at $9,833,281,000 after purchasing an additional 44,696,136 shares during the last quarter. Morgan Stanley increased its holdings in shares of Automatic Data Processing by 7.8% during the fourth quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock valued at $2,629,852,000 after purchasing an additional 794,328 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Automatic Data Processing by 94,265.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock valued at $1,617,256,000 after purchasing an additional 6,763,553 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Automatic Data Processing by 7.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,689,136 shares of the business services provider’s stock valued at $1,522,047,000 after buying an additional 461,438 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Automatic Data Processing by 0.4% during the 1st quarter. Wellington Management Group LLP now owns 5,182,839 shares of the business services provider’s stock valued at $1,153,855,000 after buying an additional 20,771 shares during the period. Institutional investors own 79.37% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $230.46 on Thursday. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $274.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $94.79 billion, a PE ratio of 27.40, a PEG ratio of 2.11 and a beta of 0.83. The company’s 50 day moving average price is $237.49 and its 200 day moving average price is $232.59.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The business services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. Automatic Data Processing had a return on equity of 102.59% and a net margin of 19.07%. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.52 billion. Research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.25. Automatic Data Processing’s dividend payout ratio is 59.45%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADP. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Mizuho dropped their price target on shares of Automatic Data Processing from $285.00 to $255.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Robert W. Baird raised their price objective on shares of Automatic Data Processing from $235.00 to $270.00 in a research report on Thursday, July 27th. Barclays dropped their target price on shares of Automatic Data Processing from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $260.00 to $280.00 and gave the company an “underweight” rating in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $248.42.

Get Our Latest Report on Automatic Data Processing

Insiders Place Their Bets

In other news, CEO Maria Black sold 17,326 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $255.03, for a total value of $4,418,649.78. Following the completion of the transaction, the chief executive officer now directly owns 70,782 shares of the company’s stock, valued at approximately $18,051,533.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP John Ayala sold 27,753 shares of Automatic Data Processing stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $254.79, for a total value of $7,071,186.87. Following the completion of the transaction, the vice president now directly owns 45,893 shares of the company’s stock, valued at $11,693,077.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria Black sold 17,326 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 70,782 shares in the company, valued at approximately $18,051,533.46. The disclosure for this sale can be found here. Insiders sold a total of 165,420 shares of company stock worth $41,491,937 over the last quarter. Company insiders own 0.26% of the company’s stock.

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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