Marathon Asset Management LLP Has $39.25 Million Position in Automatic Data Processing (NYSE:ADP)

Marathon Asset Management LLP increased its position in shares of Automatic Data Processing (NYSE:ADP) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 381,245 shares of the business services provider’s stock after buying an additional 11,173 shares during the period. Marathon Asset Management LLP’s holdings in Automatic Data Processing were worth $39,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Vanguard Group Inc. boosted its stake in Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after buying an additional 1,430,863 shares during the period. BlackRock Inc. boosted its stake in Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after buying an additional 28,201,085 shares during the period. Alliancebernstein L.P. boosted its stake in Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after buying an additional 485,320 shares during the period. Polen Capital Management LLC boosted its stake in Automatic Data Processing by 8.3% in the first quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after buying an additional 479,558 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Automatic Data Processing by 6.9% in the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after buying an additional 307,521 shares during the period.

Shares of Automatic Data Processing (NYSE ADP) opened at 104.58 on Friday. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $105.68. The stock has a market capitalization of $46.79 billion and a PE ratio of 27.06. The company’s 50 day moving average price is $102.19 and its 200 day moving average price is $101.71.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.08. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period last year, the business posted $1.17 EPS. Automatic Data Processing’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing will post $3.71 earnings per share for the current fiscal year.

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A number of analysts have recently commented on the company. William Blair cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday. Barclays PLC cut Automatic Data Processing from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $110.00 to $105.00 in a research report on Tuesday, July 18th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and cut their price objective for the company from $115.00 to $108.00 in a research report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $98.43.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the transaction, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the transaction, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The disclosure for this sale can be found here. Insiders sold a total of 54,257 shares of company stock valued at $5,435,827 over the last ninety days.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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