Earnest Partners LLC Increases Stake in Automatic Data Processing (NASDAQ:ADP)

Earnest Partners LLC increased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,158 shares of the business services provider’s stock after acquiring an additional 1,564 shares during the period. Earnest Partners LLC’s holdings in Automatic Data Processing were worth $16,102,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after buying an additional 811,960 shares during the last quarter. BlackRock Inc. increased its stake in shares of Automatic Data Processing by 0.8% in the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after buying an additional 237,439 shares during the period. Alliancebernstein L.P. increased its stake in shares of Automatic Data Processing by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after buying an additional 485,320 shares during the period. Wells Fargo & Company MN increased its stake in shares of Automatic Data Processing by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after buying an additional 190,717 shares during the period. Finally, Polen Capital Management LLC increased its stake in shares of Automatic Data Processing by 6.6% in the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after buying an additional 411,369 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Automatic Data Processing (NASDAQ ADP) traded up $0.24 during trading hours on Wednesday, reaching $115.92. The company’s stock had a trading volume of 2,087,456 shares, compared to its average volume of 2,884,859. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $50,917.05, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 2.94 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the 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 the consensus estimate of $3.06 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a $0.63 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. Automatic Data Processing’s dividend payout ratio is presently 58.02%.

Several research firms have recently commented on ADP. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a report on Wednesday, November 15th. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Wednesday, November 8th. Finally, Royal Bank Of Canada cut their price target on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a report on Monday, November 6th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $112.37.

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Automatic Data Processing Company 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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