Automatic Data Processing (ADP) Holdings Raised by Credit Suisse AG

Credit Suisse AG raised its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 14.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 706,835 shares of the business services provider’s stock after acquiring an additional 87,191 shares during the quarter. Credit Suisse AG owned approximately 0.16% of Automatic Data Processing worth $106,491,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ADP. Winslow Capital Management LLC increased its holdings in shares of Automatic Data Processing by 32.3% in the second quarter. Winslow Capital Management LLC now owns 2,051,567 shares of the business services provider’s stock worth $275,197,000 after purchasing an additional 500,640 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Automatic Data Processing by 22,962.3% in the second quarter. Moneta Group Investment Advisors LLC now owns 230,623 shares of the business services provider’s stock worth $1,126,000 after purchasing an additional 229,623 shares during the last quarter. Centaurus Financial Inc. increased its holdings in shares of Automatic Data Processing by 31.5% in the second quarter. Centaurus Financial Inc. now owns 2,522 shares of the business services provider’s stock worth $338,000 after purchasing an additional 604 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in shares of Automatic Data Processing by 13.8% in the second quarter. First Republic Investment Management Inc. now owns 136,921 shares of the business services provider’s stock worth $18,366,000 after purchasing an additional 16,653 shares during the last quarter. Finally, AIMZ Investment Advisors LLC bought a new stake in shares of Automatic Data Processing in the second quarter worth about $233,000. 79.88% of the stock is currently owned by institutional investors and hedge funds.

In other Automatic Data Processing news, VP Brock Albinson sold 3,345 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 6,081 shares in the company, valued at $877,792.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 101,620 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $147.46, for a total value of $14,984,885.20. Following the transaction, the chief executive officer now owns 199,405 shares of the company’s stock, valued at approximately $29,404,261.30. The disclosure for this sale can be found here. Insiders have sold 179,767 shares of company stock valued at $26,396,593 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Barclays assumed coverage on Automatic Data Processing in a report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 target price on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Automatic Data Processing in a report on Monday, November 12th. Jefferies Financial Group lifted their target price on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a report on Thursday, November 1st. BMO Capital Markets reduced their target price on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Finally, Citigroup lifted their target price on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, November 1st. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $151.19.

Shares of NASDAQ ADP opened at $140.89 on Friday. 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 1-year low of $107.61 and a 1-year high of $153.51. The company has a market cap of $61.76 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 2.15 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts predict that Automatic Data Processing will post 5.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s payout ratio is 63.45%.

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Automatic Data Processing Company 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.

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

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