Automatic Data Processing (ADP) Shares Bought by Victory Capital Management Inc.

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Victory Capital Management Inc. raised its position in shares of Automatic Data Processing (NASDAQ:ADP) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,110 shares of the business services provider’s stock after acquiring an additional 2,997 shares during the period. Victory Capital Management Inc.’s holdings in Automatic Data Processing were worth $4,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. BTIM Corp. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $93,401,000. Fred Alger Management Inc. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $53,919,000. Gateway Investment Advisers LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $37,039,000. Welch & Forbes LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $36,553,000. Finally, Wendell David Associates Inc. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $29,057,000. 77.81% of the stock is currently owned by institutional investors and hedge funds.

ADP has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Automatic Data Processing from $126.00 to $148.00 and gave the company a “hold” rating in a research report on Wednesday, June 6th. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $146.00 target price on the stock in a research report on Monday, May 28th. Bank of America boosted their target price on Automatic Data Processing from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, May 4th. Argus boosted their target price on Automatic Data Processing from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, June 4th. Finally, Morgan Stanley boosted their target price on Automatic Data Processing from $114.00 to $122.00 and gave the company a “hold” rating in a research report on Thursday, May 3rd. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Automatic Data Processing has an average rating of “Buy” and a consensus target price of $141.07.

NASDAQ ADP opened at $143.04 on Wednesday. The company has a market cap of $62.45 billion, a PE ratio of 32.88, a P/E/G ratio of 2.43 and a beta of 0.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing has a fifty-two week low of $102.81 and a fifty-two week high of $143.49.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.29 billion. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. Automatic Data Processing’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. equities analysts expect that Automatic Data Processing will post 5.18 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.45%.

In other Automatic Data Processing news, insider Michael C. Eberhard sold 7,963 shares of the company’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $135.00, for a total value of $1,075,005.00. Following the transaction, the insider now owns 43,437 shares of the company’s stock, valued at approximately $5,863,995. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael A. Bonarti sold 2,372 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $132.66, for a total value of $314,669.52. Following the completion of the transaction, the insider now directly owns 41,023 shares in the company, valued at approximately $5,442,111.18. The disclosure for this sale can be found here. Insiders sold a total of 23,723 shares of company stock worth $3,223,283 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) business process outsourcing and technology-enabled human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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