BB&T Investment Services Inc. Purchases Shares of 15,839 Automatic Data Processing, Inc. (ADP)

BB&T Investment Services Inc. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 15,839 shares of the business services provider’s stock, valued at approximately $1,619,000.

Several other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia boosted its position in shares of Automatic Data Processing by 8.4% during the 2nd quarter. Bank of Nova Scotia now owns 365,059 shares of the business services provider’s stock worth $37,404,000 after purchasing an additional 28,289 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Automatic Data Processing by 7.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 140,002 shares of the business services provider’s stock worth $14,344,000 after purchasing an additional 9,243 shares during the period. Assetmark Inc. boosted its position in shares of Automatic Data Processing by 8.4% during the 2nd quarter. Assetmark Inc. now owns 380,506 shares of the business services provider’s stock worth $38,987,000 after purchasing an additional 29,466 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Automatic Data Processing by 5.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 23,901 shares of the business services provider’s stock worth $2,449,000 after purchasing an additional 1,276 shares during the period. Finally, Argent Capital Management LLC boosted its position in shares of Automatic Data Processing by 4.0% during the 2nd quarter. Argent Capital Management LLC now owns 5,200 shares of the business services provider’s stock worth $533,000 after purchasing an additional 200 shares during the period. 78.41% of the stock is owned by institutional investors and hedge funds.

In other news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the sale, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Maria Black sold 631 shares of the firm’s stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

A number of equities research analysts have issued reports on ADP shares. Royal Bank Of Canada increased their target price on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 1st. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Robert W. Baird reiterated a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, Sanford C. Bernstein increased their target price on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Thirteen equities research analysts have rated the stock with 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 target price of $112.37.

Shares of Automatic Data Processing, Inc. (NASDAQ ADP) opened at $110.02 on Friday. The stock has a market cap of $48,877.00, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.87. Automatic Data Processing, Inc. has a fifty-two week low of $94.11 and a fifty-two week high of $121.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the business earned $0.86 EPS. The company’s revenue was up 5.6% on a year-over-year basis. equities analysts predict that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.29%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 58.02%.

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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 (NASDAQ:ADP)

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