Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,497 shares of the business services provider’s stock after acquiring an additional 22,189 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Automatic Data Processing were worth $40,182,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brookstone Capital Management boosted its position in shares of Automatic Data Processing by 8.9% in the first quarter. Brookstone Capital Management now owns 15,752 shares of the business services provider’s stock worth $3,934,000 after buying an additional 1,284 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter worth $222,000. Register Financial Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter worth $98,000. Kathmere Capital Management LLC boosted its position in shares of Automatic Data Processing by 4.9% in the first quarter. Kathmere Capital Management LLC now owns 3,379 shares of the business services provider’s stock worth $844,000 after buying an additional 157 shares during the period. Finally, KRS Capital Management LLC acquired a new stake in shares of Automatic Data Processing in the first quarter worth $221,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADP. Jefferies Financial Group raised their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $275.33.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $0.39 during trading on Friday, reaching $289.82. The company’s stock had a trading volume of 147,411 shares, compared to its average volume of 1,619,037. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average price is $278.40 and its 200-day moving average price is $257.89. The firm has a market cap of $118.62 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth 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 quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. 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 company posted $1.89 earnings per share. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing 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.