Ferguson Wellman Capital Management Inc. Raises Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ferguson Wellman Capital Management Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,454 shares of the business services provider’s stock after purchasing an additional 140 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Automatic Data Processing were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $566,438,000. BlackRock Inc. lifted its holdings in shares of Automatic Data Processing by 5.1% in the first quarter. BlackRock Inc. now owns 33,637,473 shares of the business services provider’s stock worth $7,653,871,000 after buying an additional 1,642,852 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Automatic Data Processing by 23,114.1% in the first quarter. Aaron Wealth Advisors LLC now owns 1,481,057 shares of the business services provider’s stock worth $6,509,000 after buying an additional 1,474,677 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Automatic Data Processing by 1,386.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,531,541 shares of the business services provider’s stock worth $377,647,000 after buying an additional 1,428,484 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Automatic Data Processing by 16.9% in the first quarter. Capital World Investors now owns 5,393,160 shares of the business services provider’s stock worth $1,227,160,000 after buying an additional 779,457 shares in the last quarter. 79.06% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.0 %

Shares of NASDAQ ADP opened at $230.47 on Friday. Automatic Data Processing, Inc. has a one year low of $192.26 and a one year high of $261.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50 day simple moving average is $240.78 and its two-hundred day simple moving average is $225.72. The stock has a market capitalization of $95.76 billion, a P/E ratio of 32.88, a PEG ratio of 2.42 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.02. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing, Inc. will post 8.05 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio is 59.34%.

Analyst Ratings Changes

ADP has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Cowen increased their price target on shares of Automatic Data Processing from $230.00 to $236.00 in a report on Tuesday. Mizuho increased their price target on shares of Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Wolfe Research decreased their price objective on shares of Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Finally, Cowen upped their price objective on shares of Automatic Data Processing from $230.00 to $236.00 in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $236.85.

Insider Transactions at Automatic Data Processing

In other news, VP Augusto J. Blanchard sold 567 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the transaction, the vice president now owns 4,238 shares in the company, valued at $892,692.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Augusto J. Blanchard sold 567 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the sale, the vice president now owns 4,238 shares of the company’s stock, valued at $892,692.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 58,864 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $13,932,520.16. Following the completion of the sale, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at approximately $10,515,189.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,349 shares of company stock worth $25,576,129. Insiders own 0.34% of the company’s stock.

About Automatic Data Processing

(Get Rating)

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.

See Also

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.