Voya Investment Management LLC Boosts Position in Automatic Data Processing, Inc. (ADP)

Voya Investment Management LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 252,489 shares of the business services provider’s stock after acquiring an additional 15,626 shares during the quarter. Voya Investment Management LLC owned 0.06% of Automatic Data Processing worth $25,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board increased its position in Automatic Data Processing by 13.7% during the second quarter. Ontario Teachers Pension Plan Board now owns 73,072 shares of the business services provider’s stock valued at $7,487,000 after acquiring an additional 8,797 shares during the last quarter. Veritable L.P. increased its position in Automatic Data Processing by 3.8% during the second quarter. Veritable L.P. now owns 30,037 shares of the business services provider’s stock valued at $3,078,000 after acquiring an additional 1,095 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Automatic Data Processing by 6.0% in the second quarter. Epoch Investment Partners Inc. now owns 1,733,744 shares of the business services provider’s stock worth $177,639,000 after buying an additional 98,540 shares in the last quarter. Ally Financial Inc. purchased a new stake in Automatic Data Processing in the second quarter worth about $1,025,000. Finally, Dimensional Fund Advisors LP increased its position in Automatic Data Processing by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,104,721 shares of the business services provider’s stock worth $113,185,000 after buying an additional 75,384 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $112.08 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing, Inc. has a 1 year low of $91.60 and a 1 year high of $121.77. The stock has a market capitalization of $49,462.40, a PE ratio of 29.82, a P/E/G ratio of 2.86 and a beta of 0.87.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. analysts forecast that Automatic Data Processing, Inc. will post 3.91 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.25%. Automatic Data Processing’s dividend payout ratio is presently 58.02%.

A number of brokerages have commented on ADP. BMO Capital Markets restated a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company restated a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Wednesday, November 8th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $114.00 price target for the company in a research report on Tuesday. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $112.37.

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In related news, VP Brock Albinson sold 3,663 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Maria Black sold 631 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.

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

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