Automatic Data Processing (NASDAQ:ADP) Shares Acquired by Tiaa Fsb

Tiaa Fsb increased its stake in Automatic Data Processing (NASDAQ:ADP) by 0.4% during the 3rd quarter, Holdings Channel reports. The fund owned 47,160 shares of the business services provider’s stock after purchasing an additional 209 shares during the quarter. Tiaa Fsb’s holdings in Automatic Data Processing were worth $7,613,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in Automatic Data Processing by 40,836.2% in the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after buying an additional 4,708,009 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Automatic Data Processing by 17,208.5% during the second quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock worth $72,921,000 after purchasing an additional 724,995 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Automatic Data Processing by 1.7% during the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after purchasing an additional 644,178 shares during the last quarter. Morgan Stanley grew its holdings in shares of Automatic Data Processing by 6.5% during the second quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock worth $1,391,241,000 after purchasing an additional 516,484 shares during the last quarter. Finally, Investec Asset Management LTD grew its holdings in shares of Automatic Data Processing by 217.5% during the second quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock worth $40,267,000 after purchasing an additional 444,270 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Shares of ADP stock traded up $0.94 during mid-day trading on Wednesday, hitting $157.26. 10,059 shares of the stock were exchanged, compared to its average volume of 1,957,957. The stock’s fifty day simple moving average is $163.75 and its two-hundred day simple moving average is $163.41. The stock has a market capitalization of $67.80 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.99 and a beta of 0.90. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $174.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the company posted $0.99 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Thursday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the transaction, the chief executive officer now owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the transaction, the vice president now directly owns 6,302 shares in the company, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Cowen assumed coverage on Automatic Data Processing in a report on Wednesday, September 11th. They set an “outperform” rating and a $195.00 price objective on the stock. ValuEngine lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Wednesday, September 11th. Finally, BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $175.67.

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.

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

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