Dupont Capital Management Corp purchased a new position in shares of Automatic Data Processing (NASDAQ:ADP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,358 shares of the business services provider’s stock, valued at approximately $585,000.
Other large investors also recently bought and sold shares of the company. Berkshire Asset Management LLC PA raised its position in Automatic Data Processing by 4.0% in the first quarter. Berkshire Asset Management LLC PA now owns 15,245 shares of the business services provider’s stock valued at $1,730,000 after purchasing an additional 592 shares during the period. Busey Trust CO purchased a new stake in Automatic Data Processing in the first quarter valued at approximately $1,222,000. Rikoon Group LLC raised its position in Automatic Data Processing by 10.5% in the first quarter. Rikoon Group LLC now owns 3,990 shares of the business services provider’s stock valued at $452,000 after purchasing an additional 379 shares during the period. Pensionfund Sabic purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $2,750,000. Finally, Pensionfund DSM Netherlands purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $3,595,000. 78.66% of the stock is currently owned by institutional investors.
Shares of Automatic Data Processing opened at $139.29 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $60.62 billion, a P/E ratio of 31.88, a PEG ratio of 2.36 and a beta of 0.88. Automatic Data Processing has a 12 month low of $102.81 and a 12 month high of $141.52.
Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, August 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.29 billion. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. sell-side analysts anticipate that Automatic Data Processing will post 5.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a dividend of $0.69 per share. The ex-dividend date is Thursday, September 13th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s payout ratio is currently 63.45%.
In related news, insider Michael A. Bonarti sold 2,372 shares of the business’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $132.66, for a total transaction of $314,669.52. Following the completion of the transaction, the insider now owns 41,023 shares in the company, valued at $5,442,111.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Maria Black sold 8,137 shares of the business’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $138.22, for a total transaction of $1,124,696.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,723 shares of company stock valued at $3,223,283. Insiders own 0.25% of the company’s stock.
A number of analysts have issued reports on ADP shares. Wolfe Research started coverage on Automatic Data Processing in a research report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a research note on Monday, May 28th. BMO Capital Markets restated a “hold” rating and issued a $118.00 price target on shares of Automatic Data Processing in a research note on Thursday, April 19th. Argus boosted their price target on shares of Automatic Data Processing from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, June 4th. Finally, Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $126.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 6th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Buy” and a consensus price target of $136.73.
About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) business process outsourcing and technology-enabled human capital management solutions.
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