Charles Schwab Investment Management Inc. Has $623.42 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Charles Schwab Investment Management Inc. grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,252,807 shares of the business services provider’s stock after acquiring an additional 17,717 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Automatic Data Processing were worth $623,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its stake in Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after acquiring an additional 435,093 shares during the last quarter. Legal & General Group Plc lifted its stake in Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after acquiring an additional 139,561 shares during the last quarter. Ninety One UK Ltd raised its stake in Automatic Data Processing by 0.4% in the second quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock valued at $610,182,000 after buying an additional 9,464 shares during the period. Accredited Investors Inc. boosted its position in Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Automatic Data Processing by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,296,344 shares of the business services provider’s stock valued at $548,099,000 after acquiring an additional 269,986 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 2.0 %

Shares of Automatic Data Processing stock opened at $304.69 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $124.15 billion, a PE ratio of 32.52, a P/E/G ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $227.12 and a 1 year high of $309.37. The stock has a fifty day moving average price of $288.99 and a 200-day moving average price of $265.44.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the company earned $2.08 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s payout ratio is presently 65.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $289.91.

Insider Buying and Selling

In other news, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 20.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,946 shares of company stock worth $27,462,781. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Company 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.