IQ EQ FUND MANAGEMENT IRELAND Ltd Has $6.79 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,542 shares of the business services provider’s stock after acquiring an additional 2,504 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Automatic Data Processing were worth $6,792,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADP. SageView Advisory Group LLC grew its position in Automatic Data Processing by 140.6% during the fourth quarter. SageView Advisory Group LLC now owns 2,399 shares of the business services provider’s stock worth $572,000 after buying an additional 1,402 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $1,933,000. CWM LLC lifted its holdings in shares of Automatic Data Processing by 1.9% during the first quarter. CWM LLC now owns 18,197 shares of the business services provider’s stock worth $4,544,000 after purchasing an additional 334 shares during the period. NBC Securities Inc. lifted its holdings in shares of Automatic Data Processing by 1.5% during the first quarter. NBC Securities Inc. now owns 4,684 shares of the business services provider’s stock worth $1,171,000 after purchasing an additional 69 shares during the period. Finally, Rise Advisors LLC lifted its holdings in Automatic Data Processing by 6,666.7% in the first quarter. Rise Advisors LLC now owns 203 shares of the business services provider’s stock valued at $51,000 after buying an additional 200 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Up 0.2 %

NASDAQ:ADP opened at $290.70 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $275.45 and a 200-day moving average of $256.27. The company has a market cap of $118.98 billion, a PE ratio of 32.44, a PEG ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is presently 62.50%.

Analyst Ratings Changes

Several research firms recently issued reports on ADP. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays boosted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Company Profile

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.