Toronto Dominion Bank Increases Stake in Automatic Data Processing (NASDAQ:ADP)

Toronto Dominion Bank boosted its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 24.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,679 shares of the business services provider’s stock after acquiring an additional 30,422 shares during the quarter. Toronto Dominion Bank’s holdings in Automatic Data Processing were worth $16,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Washington Trust Bank lifted its holdings in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock worth $348,000 after buying an additional 12 shares during the period. Guardian Life Insurance Co. of America lifted its holdings in shares of Automatic Data Processing by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in shares of Automatic Data Processing by 0.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after buying an additional 16 shares during the period. Personal Capital Advisors Corp lifted its holdings in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock worth $243,000 after buying an additional 16 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares during the period. Institutional investors own 78.64% of the company’s stock.

Several equities research analysts have weighed in on ADP shares. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Sanford C. Bernstein upped their target price on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 target price for the company in a report on Tuesday, November 14th. Deutsche Bank reiterated a “hold” rating and issued a $102.00 target price on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Barclays upped their price objective on Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $112.37.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $115.68 on Wednesday. Automatic Data Processing has a 12 month low of $94.11 and a 12 month high of $121.77. The firm has a market capitalization of $50,917.05, a price-to-earnings ratio of 30.70, a P/E/G ratio of 2.94 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. analysts anticipate that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is currently 58.02%.

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Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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