Rehmann Capital Advisory Group Boosts Stake in Automatic Data Processing (ADP)

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Rehmann Capital Advisory Group increased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,287 shares of the business services provider’s stock after purchasing an additional 177 shares during the period. Rehmann Capital Advisory Group’s holdings in Automatic Data Processing were worth $797,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Great Lakes Advisors LLC raised its position in shares of Automatic Data Processing by 2.7% during the 3rd quarter. Great Lakes Advisors LLC now owns 35,472 shares of the business services provider’s stock worth $5,344,000 after purchasing an additional 944 shares during the last quarter. Belpointe Asset Management LLC grew its stake in Automatic Data Processing by 70.6% in the 3rd quarter. Belpointe Asset Management LLC now owns 3,850 shares of the business services provider’s stock worth $580,000 after acquiring an additional 1,593 shares during the period. Vanguard Group Inc. grew its stake in Automatic Data Processing by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after acquiring an additional 425,007 shares during the period. Waldron Private Wealth LLC purchased a new stake in Automatic Data Processing in the 3rd quarter worth approximately $336,000. Finally, Standard Life Aberdeen plc grew its stake in Automatic Data Processing by 10.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 141,136 shares of the business services provider’s stock worth $21,264,000 after acquiring an additional 13,226 shares during the period. Hedge funds and other institutional investors own 77.93% of the company’s stock.

Shares of NASDAQ ADP opened at $139.33 on Friday. Automatic Data Processing has a 52-week low of $107.61 and a 52-week high of $153.51. The firm has a market cap of $62.67 billion, a PE ratio of 32.03, a P/E/G ratio of 2.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the company earned $0.94 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing will post 5.27 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.27%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.69. The ex-dividend date is Thursday, December 13th. Automatic Data Processing’s dividend payout ratio is 63.45%.

In related news, CEO Carlos A. Rodriguez sold 101,620 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $147.46, for a total transaction of $14,984,885.20. Following the completion of the sale, the chief executive officer now directly owns 199,405 shares of the company’s stock, valued at approximately $29,404,261.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael C. Eberhard sold 9,100 shares of the company’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the sale, the vice president now directly owns 48,468 shares of the company’s stock, valued at $7,270,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,948 shares of company stock valued at $25,409,660. 0.33% of the stock is owned by corporate insiders.

Several research firms have commented on ADP. Credit Suisse Group began coverage on shares of Automatic Data Processing in a research note on Friday, August 10th. They issued an “outperform” rating and a $160.00 target price for the company. BMO Capital Markets lowered their target price on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Citigroup lifted their target price on shares of Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $151.19.

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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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