Guardian Capital LP Has $4.81 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Guardian Capital LP lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 12.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,900 shares of the business services provider’s stock after buying an additional 2,600 shares during the quarter. Guardian Capital LP’s holdings in Automatic Data Processing were worth $4,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Los Angeles Capital Management LLC grew its position in Automatic Data Processing by 145.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 20,006 shares of the business services provider’s stock valued at $4,552,000 after purchasing an additional 11,854 shares during the period. Bridgewater Associates LP grew its position in Automatic Data Processing by 11.7% in the 2nd quarter. Bridgewater Associates LP now owns 87,181 shares of the business services provider’s stock valued at $18,311,000 after purchasing an additional 9,116 shares during the period. Great Valley Advisor Group Inc. grew its position in Automatic Data Processing by 23.2% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,607 shares of the business services provider’s stock valued at $548,000 after purchasing an additional 491 shares during the period. Csenge Advisory Group grew its position in Automatic Data Processing by 11.9% in the 1st quarter. Csenge Advisory Group now owns 2,625 shares of the business services provider’s stock valued at $597,000 after purchasing an additional 279 shares during the period. Finally, Moody National Bank Trust Division acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $899,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP James T. Sperduto sold 207 shares of Automatic Data Processing stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $242.34, for a total transaction of $50,164.38. Following the sale, the vice president now directly owns 8,535 shares in the company, valued at approximately $2,068,371.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Laura G. Brown sold 252 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $228.35, for a total value of $57,544.20. Following the sale, the vice president now directly owns 6,016 shares in the company, valued at approximately $1,373,753.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James T. Sperduto sold 207 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $242.34, for a total value of $50,164.38. Following the completion of the sale, the vice president now owns 8,535 shares in the company, valued at $2,068,371.90. The disclosure for this sale can be found here. Insiders have sold 97,091 shares of company stock worth $23,026,905 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, November 17th. Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, October 27th. Robert W. Baird lifted their price objective on shares of Automatic Data Processing to $251.00 in a report on Tuesday, November 1st. Cowen lifted their price objective on shares of Automatic Data Processing from $230.00 to $236.00 in a report on Tuesday, September 20th. Finally, Cowen lifted their price objective on shares of Automatic Data Processing to $237.00 in a report on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $240.55.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $0.61 during mid-day trading on Thursday, reaching $262.58. 1,386,725 shares of the company’s stock were exchanged, compared to its average volume of 1,678,907. The firm has a market capitalization of $108.93 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.82. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $264.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average price of $237.38 and a two-hundred day moving average price of $230.36.

Automatic Data Processing (NASDAQ:ADPGet Rating) last released its earnings results on Wednesday, October 26th. The business services provider reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $4.16 billion. Automatic Data Processing had a return on equity of 80.50% and a net margin of 17.93%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 EPS. Analysts predict that Automatic Data Processing, Inc. will post 8.13 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.04. The ex-dividend date is Thursday, December 8th. Automatic Data Processing’s payout ratio is presently 57.54%.

Automatic Data Processing Company Profile

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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.

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

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