Great Lakes Advisors LLC Decreases Stake in Automatic Data Processing (NASDAQ:ADP)

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Great Lakes Advisors LLC lessened its holdings in Automatic Data Processing (NASDAQ:ADP) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,284 shares of the business services provider’s stock after selling 4,476 shares during the quarter. Great Lakes Advisors LLC’s holdings in Automatic Data Processing were worth $7,652,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Thoroughbred Financial Services LLC grew its stake in shares of Automatic Data Processing by 17,208.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock worth $72,921,000 after purchasing an additional 724,995 shares during the period. Ellis Investment Partners LLC grew its stake in shares of Automatic Data Processing by 15,521.9% during the 1st quarter. Ellis Investment Partners LLC now owns 708,766 shares of the business services provider’s stock worth $708,000 after purchasing an additional 704,229 shares during the period. Geode Capital Management LLC grew its stake in shares of Automatic Data Processing by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after purchasing an additional 496,843 shares during the period. Investec Asset Management LTD grew its stake in shares of Automatic Data Processing by 217.5% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock worth $40,267,000 after purchasing an additional 444,270 shares during the period. Finally, FMR LLC grew its stake in shares of Automatic Data Processing by 18.3% during the 1st quarter. FMR LLC now owns 1,703,312 shares of the business services provider’s stock worth $272,086,000 after purchasing an additional 263,615 shares during the period. Institutional investors own 79.96% of the company’s stock.

Automatic Data Processing stock traded down $2.17 during trading on Thursday, reaching $167.52. The company had a trading volume of 14,708 shares, compared to its average volume of 2,116,304. The firm’s 50-day simple moving average is $166.17 and its 200 day simple moving average is $160.39. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $172.00. The firm has a market capitalization of $73.32 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 1.89%. Automatic Data Processing’s payout ratio is currently 57.98%.

A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Barclays raised their price objective on shares of Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Finally, BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Automatic Data Processing has an average rating of “Hold” and an average price target of $174.00.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the transaction, the vice president now owns 14,896 shares in the company, valued at approximately $2,413,747.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Automatic Data Processing Profile

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

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