Rhumbline Advisers Has $188.85 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Rhumbline Advisers lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 765,855 shares of the business services provider’s stock after acquiring an additional 10,824 shares during the quarter. Rhumbline Advisers’ holdings in Automatic Data Processing were worth $188,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bell Investment Advisors Inc bought a new position in Automatic Data Processing in the 3rd quarter valued at $28,000. Sandy Cove Advisors LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth about $28,000. Kozak & Associates Inc. acquired a new position in Automatic Data Processing in the third quarter valued at approximately $29,000. Tortoise Investment Management LLC boosted its stake in Automatic Data Processing by 70.8% in the fourth quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 51 shares during the last quarter. Finally, Fortis Advisors LLC acquired a new stake in Automatic Data Processing during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 78.84% of the company’s stock.

In related news, VP Deborah L. Dyson sold 2,787 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $234.55, for a total value of $653,690.85. Following the completion of the transaction, the vice president now owns 26,663 shares of the company’s stock, valued at $6,253,806.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $214.07, for a total transaction of $66,789.84. Following the sale, the vice president now owns 1,663 shares in the company, valued at $355,998.41. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

ADP traded up $1.31 during trading hours on Friday, reaching $208.79. The company’s stock had a trading volume of 2,390,845 shares, compared to its average volume of 1,959,430. The company’s 50-day moving average is $221.59 and its 200-day moving average is $223.01. Automatic Data Processing, Inc. has a 52 week low of $187.29 and a 52 week high of $248.96. The firm has a market cap of $87.22 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its earnings results on Wednesday, April 27th. The business services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.13. Automatic Data Processing had a net margin of 17.77% and a return on equity of 56.01%. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the company posted $1.89 EPS. Automatic Data Processing’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing, Inc. will post 6.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, June 9th. Automatic Data Processing’s dividend payout ratio is currently 61.45%.

ADP has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a $238.00 price objective (up previously from $222.00) on shares of Automatic Data Processing in a report on Friday, March 11th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 price objective for the company in a research report on Wednesday, March 9th. Citigroup lifted their target price on Automatic Data Processing from $212.00 to $230.00 in a report on Monday, May 2nd. Morgan Stanley cut their price objective on Automatic Data Processing from $235.00 to $225.00 and set an “equal weight” rating on the stock in a report on Thursday, January 27th. Finally, Mizuho raised their target price on shares of Automatic Data Processing from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.43.

Automatic Data Processing Company Profile (Get Rating)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in 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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