Los Angeles Capital Management LLC Has $20.37 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Los Angeles Capital Management LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 36.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,429 shares of the business services provider’s stock after acquiring an additional 23,173 shares during the period. Los Angeles Capital Management LLC’s holdings in Automatic Data Processing were worth $20,368,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Automatic Data Processing by 22,539.4% in the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after buying an additional 930,199 shares during the period. Invesco Ltd. lifted its stake in Automatic Data Processing by 40.7% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after purchasing an additional 905,043 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Automatic Data Processing by 65.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock valued at $337,416,000 after purchasing an additional 555,184 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Automatic Data Processing by 18.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after buying an additional 553,946 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Automatic Data Processing in the third quarter valued at about $107,401,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 0.1 %

ADP traded down $0.14 during trading on Friday, hitting $241.89. The company’s stock had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The firm has a market capitalization of $99.37 billion, a P/E ratio of 27.00, a PEG ratio of 2.27 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The stock’s fifty day moving average price is $245.91 and its 200-day moving average price is $239.13. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $2.52 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. TD Cowen dropped their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday. Mizuho increased their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $255.42.

Insider Transactions at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 3,829 shares of company stock valued at $965,274 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Profile

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.