IndexIQ Advisors LLC Boosts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

IndexIQ Advisors LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 22,492 shares of the business services provider’s stock after purchasing an additional 90 shares during the period. IndexIQ Advisors LLC’s holdings in Automatic Data Processing were worth $4,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. D Orazio & Associates Inc. boosted its stake in Automatic Data Processing by 45.8% in the 3rd quarter. D Orazio & Associates Inc. now owns 777 shares of the business services provider’s stock worth $155,000 after purchasing an additional 244 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its stake in shares of Automatic Data Processing by 1.3% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 26,288 shares of the business services provider’s stock valued at $5,255,000 after purchasing an additional 348 shares during the period. KBC Group NV lifted its stake in shares of Automatic Data Processing by 26.5% in the 3rd quarter. KBC Group NV now owns 264,953 shares of the business services provider’s stock valued at $52,969,000 after purchasing an additional 55,426 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Automatic Data Processing by 13.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 98,137 shares of the business services provider’s stock valued at $19,620,000 after purchasing an additional 11,969 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Automatic Data Processing by 255.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 48,746 shares of the business services provider’s stock valued at $9,754,000 after purchasing an additional 35,029 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.

In other Automatic Data Processing news, VP Stuart Sackman sold 738 shares of the stock in a transaction on Friday, December 3rd. The stock was sold at an average price of $228.39, for a total value of $168,551.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Deborah L. Dyson sold 2,161 shares of the stock in a transaction on Wednesday, January 12th. The shares were sold at an average price of $235.13, for a total value of $508,115.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,928 shares of company stock valued at $28,959,765. Insiders own 0.34% of the company’s stock.

ADP traded down $2.83 during trading on Friday, hitting $229.10. The company had a trading volume of 17,039 shares, compared to its average volume of 1,361,209. The business has a 50-day moving average of $235.55 and a 200-day moving average of $217.35. The company has a market cap of $96.54 billion, a PE ratio of 36.70, a P/E/G ratio of 2.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 1-year low of $159.31 and a 1-year high of $248.96.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Tuesday, October 26th. The business services provider reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.16. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.75 billion. Automatic Data Processing had a return on equity of 47.31% and a net margin of 17.55%. Automatic Data Processing’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. Research analysts forecast that Automatic Data Processing, Inc. will post 6.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 1st. Shareholders of record on Friday, March 11th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.82%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.82%.

ADP has been the subject of several recent analyst reports. Barclays boosted their price target on shares of Automatic Data Processing from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, October 29th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $215.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 16th. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $215.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, October 27th. Mizuho boosted their price target on shares of Automatic Data Processing from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Automatic Data Processing from $210.00 to $235.00 and gave the company a “hold” rating in a research report on Thursday, October 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $231.46.

Automatic Data Processing Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

Further Reading: Producer Price Index (PPI)

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP).

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.