TD Asset Management Inc. Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

TD Asset Management Inc. increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 413,745 shares of the business services provider’s stock after acquiring an additional 33,618 shares during the period. TD Asset Management Inc. owned about 0.10% of Automatic Data Processing worth $57,713,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ADP. TIAA FSB boosted its position in Automatic Data Processing by 6.6% during the third quarter. TIAA FSB now owns 50,439 shares of the business services provider’s stock valued at $7,035,000 after buying an additional 3,130 shares during the period. Park Avenue Securities LLC boosted its position in Automatic Data Processing by 6.3% during the second quarter. Park Avenue Securities LLC now owns 3,368 shares of the business services provider’s stock valued at $502,000 after buying an additional 200 shares during the period. Deltec Asset Management LLC boosted its position in Automatic Data Processing by 125.3% during the second quarter. Deltec Asset Management LLC now owns 20,391 shares of the business services provider’s stock valued at $3,036,000 after buying an additional 11,340 shares during the period. Cigna Investments Inc. New boosted its position in Automatic Data Processing by 66.4% during the second quarter. Cigna Investments Inc. New now owns 21,199 shares of the business services provider’s stock valued at $3,156,000 after buying an additional 8,458 shares during the period. Finally, Advisory Services Network LLC boosted its position in Automatic Data Processing by 13.9% during the second quarter. Advisory Services Network LLC now owns 8,886 shares of the business services provider’s stock valued at $1,324,000 after buying an additional 1,087 shares during the period. Institutional investors own 69.27% of the company’s stock.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 37,593 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $172.00, for a total transaction of $6,465,996.00. Also, CEO Carlos A. Rodriguez sold 36,937 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $160.76, for a total transaction of $5,937,992.12. Following the transaction, the chief executive officer now directly owns 128,578 shares of the company’s stock, valued at approximately $20,670,199.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,459 shares of company stock valued at $19,660,527. 0.34% of the stock is owned by insiders.

Several research firms have issued reports on ADP. Barclays upped their price target on shares of Automatic Data Processing from $145.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Wolfe Research downgraded shares of Automatic Data Processing from a “market perform” rating to an “underperform” rating in a research note on Thursday, July 30th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $135.00 to $168.00 and gave the company a “hold” rating in a research note on Wednesday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $138.00 to $151.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. Finally, Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating and set a $146.00 price objective for the company in a research note on Wednesday, September 30th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $159.93.

ADP stock opened at $171.27 on Friday. Automatic Data Processing, Inc. has a 1 year low of $103.11 and a 1 year high of $182.32. The company has a market cap of $73.44 billion, a P/E ratio of 29.73, a PEG ratio of 2.62 and a beta of 0.69. The firm has a 50-day moving average of $155.67 and a 200 day moving average of $145.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 28th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.44. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 5.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be paid a $0.93 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, December 10th. Automatic Data Processing’s dividend payout ratio is presently 61.49%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through 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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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