Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Boosted by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 35.0% in the 3rd quarter, Holdings Channel reports. The fund owned 43,766 shares of the business services provider’s stock after buying an additional 11,353 shares during the period. Quantinno Capital Management LP’s holdings in Automatic Data Processing were worth $12,112,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Quarry LP lifted its holdings in Automatic Data Processing by 103.0% in the third quarter. Quarry LP now owns 2,938 shares of the business services provider’s stock worth $813,000 after purchasing an additional 1,491 shares during the period. Royal London Asset Management Ltd. lifted its holdings in Automatic Data Processing by 7.3% in the third quarter. Royal London Asset Management Ltd. now owns 219,784 shares of the business services provider’s stock worth $60,821,000 after purchasing an additional 14,894 shares during the period. Port Capital LLC acquired a new stake in Automatic Data Processing in the third quarter worth about $11,242,000. IHT Wealth Management LLC lifted its holdings in Automatic Data Processing by 8.6% in the third quarter. IHT Wealth Management LLC now owns 7,327 shares of the business services provider’s stock worth $2,030,000 after purchasing an additional 580 shares during the period. Finally, Ingalls & Snyder LLC lifted its holdings in Automatic Data Processing by 1.3% in the third quarter. Ingalls & Snyder LLC now owns 16,211 shares of the business services provider’s stock worth $4,486,000 after purchasing an additional 215 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $303.49 on Thursday. The business’s 50-day moving average is $294.13 and its 200-day moving average is $269.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $123.66 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 3.56 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm 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 company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.74%.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted 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, October 22nd. Barclays increased their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 20.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.