Acadian Asset Management LLC Purchases 60,308 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Acadian Asset Management LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 367,741 shares of the business services provider’s stock after buying an additional 60,308 shares during the quarter. Acadian Asset Management LLC’s holdings in Automatic Data Processing were worth $87,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ADP. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 0.4% during the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after purchasing an additional 173,298 shares in the last quarter. Wellington Management Group LLP boosted its stake in Automatic Data Processing by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares in the last quarter. Capital Research Global Investors grew its position in Automatic Data Processing by 2.3% during the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after purchasing an additional 81,869 shares during the last quarter. Nordea Investment Management AB increased its stake in Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in shares of Automatic Data Processing by 0.4% in the second quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock worth $610,182,000 after buying an additional 9,464 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Barclays increased their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Stock Down 0.2 %

ADP stock opened at $269.56 on Friday. The firm’s fifty day moving average is $256.39 and its 200 day moving average is $249.71. The firm has a market cap of $110.33 billion, a PE ratio of 30.08, a P/E/G ratio of 3.00 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $278.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

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, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.89 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The disclosure for this sale can be found here. Insiders sold a total of 49,614 shares of company stock valued at $13,519,460 in the last three months. 0.26% of the stock is currently owned by company insiders.

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.