Raymond James Trust N.A. Has $4.53 Million Stake in Automatic Data Processing, Inc. (ADP)

Raymond James Trust N.A. cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,416 shares of the business services provider’s stock after selling 3,323 shares during the quarter. Raymond James Trust N.A.’s holdings in Automatic Data Processing were worth $4,528,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ADP. Benjamin F. Edwards & Company Inc. boosted its position in shares of Automatic Data Processing by 13.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 16,195 shares of the business services provider’s stock worth $1,770,000 after purchasing an additional 1,935 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Automatic Data Processing by 9.5% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 78,460 shares of the business services provider’s stock worth $8,577,000 after purchasing an additional 6,830 shares in the last quarter. Evermay Wealth Management LLC boosted its position in shares of Automatic Data Processing by 18.9% in the 3rd quarter. Evermay Wealth Management LLC now owns 3,196 shares of the business services provider’s stock worth $349,000 after purchasing an additional 509 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth $864,000. Finally, Oxbow Advisors LLC boosted its position in shares of Automatic Data Processing by 221.7% in the 3rd quarter. Oxbow Advisors LLC now owns 25,562 shares of the business services provider’s stock worth $2,794,000 after purchasing an additional 17,617 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

A number of research firms have recently weighed in on ADP. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a research report on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays reaffirmed an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Finally, Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $112.37.

Shares of Automatic Data Processing, Inc. (ADP) opened at $113.75 on Monday. Automatic Data Processing, Inc. has a 52-week low of $94.11 and a 52-week high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $50,446.95, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.91 and a beta of 0.85.

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

The business 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 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is 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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