Automatic Data Processing (ADP) Stake Raised by Comerica Securities Inc.

Comerica Securities Inc. lifted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 190.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,322 shares of the business services provider’s stock after purchasing an additional 5,456 shares during the period. Comerica Securities Inc.’s holdings in Automatic Data Processing were worth $1,260,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. raised its position in Automatic Data Processing by 9,857.0% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 574,919 shares of the business services provider’s stock valued at $86,617,000 after buying an additional 569,145 shares during the period. Gulf International Bank UK Ltd raised its position in Automatic Data Processing by 8.5% during the third quarter. Gulf International Bank UK Ltd now owns 154,061 shares of the business services provider’s stock valued at $23,210,000 after buying an additional 12,108 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Automatic Data Processing during the third quarter valued at $9,446,000. Security National Trust Co. raised its position in Automatic Data Processing by 1.1% during the third quarter. Security National Trust Co. now owns 38,467 shares of the business services provider’s stock valued at $5,795,000 after buying an additional 435 shares during the period. Finally, American Century Companies Inc. raised its position in Automatic Data Processing by 1.9% during the third quarter. American Century Companies Inc. now owns 1,463,786 shares of the business services provider’s stock valued at $220,534,000 after buying an additional 27,951 shares during the period. 77.94% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on ADP. Jefferies Financial Group upped their price target on Automatic Data Processing to $167.00 and gave the company a “hold” rating in a research report on Thursday, November 1st. BMO Capital Markets dropped their price target on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a research report on Thursday, November 1st. Citigroup boosted their target price on Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Moffett Nathanson assumed coverage on Automatic Data Processing in a research note on Thursday, October 4th. They issued a “buy” rating and a $180.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Buy” and a consensus price target of $148.69.

In other news, VP Brock Albinson sold 3,345 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the sale, the vice president now owns 6,081 shares in the company, valued at approximately $877,792.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael C. Eberhard sold 9,100 shares of the company’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $150.00, for a total value of $1,365,000.00. Following the sale, the vice president now owns 48,468 shares of the company’s stock, valued at approximately $7,270,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,919 shares of company stock valued at $2,351,933. 0.33% of the stock is currently owned by corporate insiders.

Shares of NASDAQ ADP opened at $148.30 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Automatic Data Processing has a one year low of $107.61 and a one year high of $153.51. The stock has a market capitalization of $63.00 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 2.19 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing will post 5.26 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s dividend payout ratio is 63.45%.

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Automatic Data Processing 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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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

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