OmniStar Financial Group Inc. Reduces Stake in Automatic Data Processing (NASDAQ:ADP)

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OmniStar Financial Group Inc. lowered its holdings in Automatic Data Processing (NASDAQ:ADP) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,372 shares of the business services provider’s stock after selling 353 shares during the quarter. OmniStar Financial Group Inc.’s holdings in Automatic Data Processing were worth $1,190,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its position in Automatic Data Processing by 40,836.2% during the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after purchasing an additional 4,708,009 shares in the last quarter. Thoroughbred Financial Services LLC increased its stake in Automatic Data Processing by 17,208.5% during the second quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock worth $72,921,000 after acquiring an additional 724,995 shares during the last quarter. Vanguard Group Inc. increased its stake in Automatic Data Processing by 1.7% during the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after acquiring an additional 644,178 shares during the last quarter. Morgan Stanley boosted its position in shares of Automatic Data Processing by 6.5% during the second quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock valued at $1,391,241,000 after buying an additional 516,484 shares during the period. Finally, Investec Asset Management LTD boosted its position in shares of Automatic Data Processing by 217.5% during the second quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock valued at $40,267,000 after buying an additional 444,270 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ADP traded up $1.80 during mid-day trading on Friday, reaching $162.52. 1,989,462 shares of the company were exchanged, compared to its average volume of 1,954,768. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $67.80 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 1.95 and a beta of 0.90. The firm’s 50-day simple moving average is $163.38 and its 200 day simple moving average is $163.45. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. On average, research analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.79 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.16 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio is presently 57.98%.

ADP has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley upped their target price on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Cowen assumed coverage on shares of Automatic Data Processing in a report on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 price target on the stock. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $175.67.

In other news, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the completion of the sale, the vice president now directly owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the sale, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Automatic Data Processing Company 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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