Fort L.P. acquired a new position in Automatic Data Processing (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 888 shares of the business services provider’s stock, valued at approximately $119,000.

A number of other large investors have also recently made changes to their positions in the stock. Rikoon Group LLC boosted its holdings in shares of Automatic Data Processing by 10.5% during the 1st quarter. Rikoon Group LLC now owns 3,990 shares of the business services provider’s stock worth $452,000 after purchasing an additional 379 shares during the last quarter. Pensionfund Sabic acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $2,750,000. Pensionfund DSM Netherlands acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $3,595,000. Park National Corp OH raised its position in shares of Automatic Data Processing by 0.9% during the 2nd quarter. Park National Corp OH now owns 367,536 shares of the business services provider’s stock valued at $49,301,000 after buying an additional 3,389 shares during the period. Finally, Private Trust Co. NA raised its position in shares of Automatic Data Processing by 4.6% during the 2nd quarter. Private Trust Co. NA now owns 9,237 shares of the business services provider’s stock valued at $1,239,000 after buying an additional 406 shares during the period. 78.99% of the stock is currently owned by institutional investors.

NASDAQ ADP traded up $0.54 during trading hours on Friday, hitting $147.46. 1,039,493 shares of the stock were exchanged, compared to its average volume of 1,670,321. The stock has a market capitalization of $64.46 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.51 and a beta of 0.91. Automatic Data Processing has a 12-month low of $106.25 and a 12-month high of $147.94. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.58.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. equities research analysts expect that Automatic Data Processing will post 5.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.76 dividend on an annualized basis and a yield of 1.87%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.45%.

A number of analysts have issued reports on the company. Guggenheim assumed coverage on Automatic Data Processing in a research report on Monday, August 20th. They issued a “buy” rating and a $175.00 target price on the stock. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. Credit Suisse Group began coverage on Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 price objective on the stock. Finally, Deutsche Bank upped their price objective on Automatic Data Processing from $128.00 to $138.00 and gave the stock a “hold” rating in a research report on Wednesday, June 13th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $141.07.

In other news, VP Brock Albinson sold 3,345 shares of Automatic Data Processing stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the sale, the vice president now owns 6,081 shares of the company’s stock, valued at $877,792.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Don Mcguire sold 1,140 shares of Automatic Data Processing stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $145.78, for a total value of $166,189.20. Following the sale, the vice president now directly owns 6,476 shares of the company’s stock, valued at approximately $944,071.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,191 shares of company stock valued at $1,301,603. Company insiders own 0.25% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

See Also: Short Selling

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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