Epoch Investment Partners Inc. boosted its holdings in shares of Automatic Data Processing (NYSE:ADP) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,733,744 shares of the business services provider’s stock after acquiring an additional 98,540 shares during the quarter. Epoch Investment Partners Inc. owned 0.39% of Automatic Data Processing worth $177,639,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares during the period. Acrospire Investment Management LLC purchased a new position in Automatic Data Processing during the 2nd quarter valued at $102,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Automatic Data Processing in the 1st quarter worth $113,000. Grove Bank & Trust lifted its holdings in shares of Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after buying an additional 170 shares during the period. Finally, Armbruster Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after buying an additional 32 shares during the period.
Shares of Automatic Data Processing (NYSE:ADP) opened at $111.53 on Tuesday. Automatic Data Processing has a 12 month low of $90.90 and a 12 month high of $121.77.
Automatic Data Processing (NYSE:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 40.61% and a net margin of 13.04%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is currently 57.87%.
In related news, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Maria Black sold 631 shares of the company’s stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here.
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ADP has been the subject of several research reports. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. BMO Capital Markets lowered their target price on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Morgan Stanley cut Automatic Data Processing from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $98.00 to $100.00 in a report on Thursday, August 3rd. Bank of America Corporation upped their target price on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $111.43.
Automatic Data Processing 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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