Automatic Data Processing (NASDAQ:ADP) Shares Sold by Rockland Trust Co.

Rockland Trust Co. decreased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,274 shares of the business services provider’s stock after selling 200 shares during the quarter. Rockland Trust Co.’s holdings in Automatic Data Processing were worth $1,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADP. Nuveen Asset Management LLC grew its stake in shares of Automatic Data Processing by 40,836.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock worth $780,281,000 after purchasing an additional 4,708,009 shares during the period. Thoroughbred Financial Services LLC lifted its position in shares of Automatic Data Processing by 17,208.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock valued at $72,921,000 after buying an additional 724,995 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Automatic Data Processing by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock valued at $6,318,005,000 after buying an additional 644,178 shares in the last quarter. Morgan Stanley lifted its position in shares of Automatic Data Processing by 6.5% during the 2nd quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock valued at $1,391,241,000 after buying an additional 516,484 shares in the last quarter. Finally, Investec Asset Management LTD lifted its position in shares of Automatic Data Processing by 217.5% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock valued at $40,267,000 after buying an additional 444,270 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of ADP stock opened at $162.52 on Friday. The stock’s fifty day moving average is $163.27 and its two-hundred day moving average is $163.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $68.72 billion, a P/E ratio of 29.82, a PEG ratio of 1.98 and a beta of 0.90. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, equities analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.79 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 1.94%. Automatic Data Processing’s payout ratio is currently 57.98%.

A number of research analysts have recently issued reports on the company. Cowen assumed coverage on Automatic Data Processing in a research report on Wednesday, September 11th. They set an “outperform” rating and a $195.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Bank of America lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 11th. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research report on Friday, June 21st. Finally, Robert W. Baird increased their target price on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $175.67.

In other Automatic Data Processing news, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the transaction, the vice president now owns 6,302 shares in the company, valued at approximately $1,057,916.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total value of $7,986,686.40. Following the completion of the transaction, the chief executive officer now owns 132,338 shares in the company, valued at approximately $21,399,054.60. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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