Oxbow Advisors LLC Acquires 17,617 Shares of Automatic Data Processing, Inc. (ADP)

Oxbow Advisors LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 221.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,562 shares of the business services provider’s stock after acquiring an additional 17,617 shares during the quarter. Oxbow Advisors LLC’s holdings in Automatic Data Processing were worth $2,794,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Gilman Hill Asset Management LLC bought a new position in Automatic Data Processing in the 3rd quarter valued at about $231,000. Farmers & Merchants Investments Inc. increased its holdings in Automatic Data Processing by 13.0% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 43,125 shares of the business services provider’s stock valued at $4,714,000 after buying an additional 4,955 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Automatic Data Processing by 5.0% in the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 22,678 shares of the business services provider’s stock valued at $2,479,000 after buying an additional 1,075 shares during the period. Honkamp Krueger Financial Services Inc. increased its holdings in Automatic Data Processing by 45.0% in the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 6,020 shares of the business services provider’s stock valued at $658,000 after buying an additional 1,868 shares during the period. Finally, Mycio Wealth Partners LLC increased its holdings in Automatic Data Processing by 42.7% in the 3rd quarter. Mycio Wealth Partners LLC now owns 4,628 shares of the business services provider’s stock valued at $505,000 after buying an additional 1,384 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $113.75 on Friday. 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, Inc. has a 1 year low of $94.11 and a 1 year high of $121.77. The company has a market cap of $50,761.83, a P/E ratio of 30.60, a P/E/G ratio of 2.93 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the 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 the consensus estimate of $3.06 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. analysts predict that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current 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. The ex-dividend date of this dividend is Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.22%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 58.02%.

A number of research firms have recently weighed in on ADP. BidaskClub upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Wednesday, November 8th. Royal Bank Of Canada reduced their price target on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Monday, November 6th. Finally, BMO Capital Markets reduced their price target on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $112.37.

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About Automatic Data Processing

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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