Banque Cantonale Vaudoise Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Banque Cantonale Vaudoise raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,339 shares of the business services provider’s stock after purchasing an additional 1,549 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Automatic Data Processing were worth $7,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tower Wealth Partners Inc. boosted its holdings in Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 35 shares during the period. Harbour Investments Inc. boosted its holdings in Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 36 shares during the period. Petredis Investment Advisors LLC boosted its holdings in Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after acquiring an additional 37 shares during the period. Moors & Cabot Inc. boosted its holdings in Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after acquiring an additional 39 shares during the period. Finally, Austin Private Wealth LLC boosted its holdings in Automatic Data Processing by 4.4% during the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock valued at $255,000 after acquiring an additional 39 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Up 0.1 %

Shares of NASDAQ ADP opened at $297.89 on Tuesday. The business has a fifty day moving average price of $287.68 and a 200 day moving average price of $264.53. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37. The stock has a market capitalization of $121.38 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the company posted $2.08 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Analyst Ratings Changes

Several brokerages have weighed in on ADP. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Citigroup upped their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In other news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. This represents a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,792 shares of company stock valued at $27,691,708. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.