QRG Capital Management Inc. Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

QRG Capital Management Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,126 shares of the business services provider’s stock after acquiring an additional 1,253 shares during the quarter. QRG Capital Management Inc.’s holdings in Automatic Data Processing were worth $8,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its stake in shares of Automatic Data Processing by 2.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 162,287 shares of the business services provider’s stock worth $44,910,000 after purchasing an additional 3,887 shares during the last quarter. National Pension Service boosted its stake in shares of Automatic Data Processing by 11.9% during the 3rd quarter. National Pension Service now owns 755,517 shares of the business services provider’s stock worth $209,074,000 after purchasing an additional 80,226 shares during the last quarter. Wetzel Investment Advisors Inc. boosted its stake in shares of Automatic Data Processing by 7.5% during the 3rd quarter. Wetzel Investment Advisors Inc. now owns 1,599 shares of the business services provider’s stock worth $445,000 after purchasing an additional 111 shares during the last quarter. Intact Investment Management Inc. boosted its stake in shares of Automatic Data Processing by 13.4% during the 3rd quarter. Intact Investment Management Inc. now owns 35,480 shares of the business services provider’s stock worth $9,818,000 after purchasing an additional 4,180 shares during the last quarter. Finally, Donaldson Capital Management LLC boosted its stake in shares of Automatic Data Processing by 0.5% during the 3rd quarter. Donaldson Capital Management LLC now owns 49,303 shares of the business services provider’s stock worth $13,644,000 after purchasing an additional 226 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were 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 owns 88,426 shares of the company’s stock, valued at $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 SEC, which is available through this link. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 over the last 90 days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ADP shares. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Bank of America raised their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Mizuho raised their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $289.91.

Get Our Latest Stock Analysis on Automatic Data Processing

Automatic Data Processing Trading Up 0.6 %

NASDAQ ADP opened at $289.86 on Tuesday. Automatic Data Processing, Inc. has a one year low of $218.63 and a one year high of $294.18. The company’s 50 day moving average price is $281.94 and its 200 day moving average price is $260.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $118.21 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.32 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.97 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

About Automatic Data Processing

(Free Report)

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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