Rampart Investment Management Company LLC lifted its position in Automatic Data Processing (NASDAQ:ADP) by 44.3% during the second quarter, Holdings Channel reports. The fund owned 13,369 shares of the business services provider’s stock after acquiring an additional 4,103 shares during the period. Rampart Investment Management Company LLC’s holdings in Automatic Data Processing were worth $1,793,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of ADP. Rikoon Group LLC boosted its stake in Automatic Data Processing by 10.5% during the first quarter. Rikoon Group LLC now owns 3,990 shares of the business services provider’s stock worth $452,000 after buying an additional 379 shares during the last quarter. Pensionfund Sabic acquired a new position in Automatic Data Processing during the second quarter worth $2,750,000. Pensionfund DSM Netherlands purchased a new stake in Automatic Data Processing in the second quarter valued at $3,595,000. Park National Corp OH raised its position in Automatic Data Processing by 0.9% in the second quarter. Park National Corp OH now owns 367,536 shares of the business services provider’s stock valued at $49,301,000 after purchasing an additional 3,389 shares during the period. Finally, Private Trust Co. NA raised its position in Automatic Data Processing by 4.6% in the second quarter. Private Trust Co. NA now owns 9,237 shares of the business services provider’s stock valued at $1,239,000 after purchasing an additional 406 shares during the period. 79.01% of the stock is currently owned by hedge funds and other institutional investors.
ADP stock opened at $147.28 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $64.02 billion, a P/E ratio of 33.86, a PEG ratio of 2.49 and a beta of 0.91. Automatic Data Processing has a 12-month low of $106.25 and a 12-month high of $147.34.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The firm 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%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. research analysts expect that Automatic Data Processing will post 5.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be issued a $0.69 dividend. The ex-dividend date is Thursday, September 13th. This represents a $2.76 annualized dividend and a dividend yield of 1.87%. Automatic Data Processing’s dividend payout ratio is presently 63.45%.
In other Automatic Data Processing news, VP Brock Albinson sold 3,345 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total transaction of $482,850.75. Following the sale, the vice president now owns 6,081 shares in the company, valued at approximately $877,792.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael A. Bonarti sold 2,372 shares of the company’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $132.66, for a total value of $314,669.52. Following the sale, the insider now owns 41,023 shares in the company, valued at approximately $5,442,111.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,188 shares of company stock worth $2,260,110. 0.25% of the stock is owned by company insiders.
A number of equities research analysts have commented on the company. Guggenheim assumed coverage on Automatic Data Processing in a research report on Monday, August 20th. They issued a “buy” rating and a $175.00 target price on the stock. Deutsche Bank lifted their target price on Automatic Data Processing from $128.00 to $138.00 and gave the company a “hold” rating in a research report on Wednesday, June 13th. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Finally, Wedbush boosted their price objective on Automatic Data Processing from $101.25 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, June 13th. Eight equities research 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. The company currently has a consensus rating of “Buy” and a consensus price target of $141.07.
About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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