Aperio Group LLC decreased its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 400,084 shares of the business services provider’s stock after selling 29,978 shares during the quarter. Aperio Group LLC owned approximately 0.09% of Automatic Data Processing worth $43,737,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in ADP. Proficio Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $102,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Automatic Data Processing during the 1st quarter worth $113,000. Grove Bank & Trust boosted its holdings in shares of Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after buying an additional 170 shares during the period. Finally, Family Capital Trust Co bought a new stake in shares of Automatic Data Processing during the 3rd quarter worth $137,000. Institutional investors own 78.64% of the company’s stock.
Several analysts recently issued reports on ADP shares. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. BMO Capital Markets reduced their price target on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Bank of America increased their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Barclays reissued an “equal weight” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Tuesday, August 15th. Finally, Citigroup reissued a “neutral” rating and issued a $110.00 price target (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $112.37.
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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue was up 5.6% on a year-over-year basis. sell-side analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be paid a $0.63 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.19%. Automatic Data Processing’s dividend payout ratio is currently 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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