Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 420,384 shares of the business services provider’s stock after buying an additional 16,472 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of Automatic Data Processing worth $92,396,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Ten Capital Wealth Advisors LLC boosted its stake in shares of Automatic Data Processing by 110.7% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock worth $26,000 after buying an additional 62 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in Automatic Data Processing during the fourth quarter worth about $33,000. Strategic Investment Solutions Inc. IL acquired a new position in Automatic Data Processing during the first quarter valued at approximately $31,000. Institutional & Family Asset Management LLC increased its position in shares of Automatic Data Processing by 129.9% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 177 shares of the business services provider’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $45,000. 79.37% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
ADP has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $240.00 to $260.00 in a research note on Wednesday, July 26th. Mizuho reduced their target price on Automatic Data Processing from $285.00 to $255.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. JPMorgan Chase & Co. increased their price target on Automatic Data Processing from $260.00 to $280.00 and gave the company an “underweight” rating in a research note on Tuesday, August 22nd. Royal Bank of Canada assumed coverage on shares of Automatic Data Processing in a research report on Tuesday, September 5th. They set a “sector perform” rating and a $267.00 price objective for the company. Finally, Robert W. Baird increased their price objective on shares of Automatic Data Processing from $235.00 to $270.00 in a research report on Thursday, July 27th. Two 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $248.42.
Insider Buying and Selling
In related news, insider Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $250.42, for a total transaction of $14,740,722.88. Following the sale, the insider now owns 44,859 shares of the company’s stock, valued at $11,233,590.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, VP Don Mcguire sold 2,380 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $238.91, for a total value of $568,605.80. Following the sale, the vice president now owns 20,665 shares of the company’s stock, valued at approximately $4,937,075.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carlos A. Rodriguez sold 58,864 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $250.42, for a total value of $14,740,722.88. Following the completion of the sale, the insider now directly owns 44,859 shares in the company, valued at approximately $11,233,590.78. The disclosure for this sale can be found here. Insiders have sold 165,420 shares of company stock valued at $41,491,937 over the last 90 days. 0.26% of the stock is owned by corporate insiders.
Automatic Data Processing Price Performance
Automatic Data Processing stock opened at $229.39 on Friday. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $274.92. The stock’s 50 day moving average is $236.69 and its 200-day moving average is $232.63. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $94.35 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.15 and a beta of 0.83.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The business services provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.52 billion. Automatic Data Processing had a return on equity of 102.59% and a net margin of 19.07%. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.
Automatic Data Processing Increases Dividend
The business 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 dividend of $1.40 per share. The ex-dividend date is Thursday, December 7th. This represents a $5.60 dividend on an annualized basis and a yield of 2.44%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.25. Automatic Data Processing’s dividend payout ratio is currently 66.59%.
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.
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