Notis McConarty Edward cut its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,162 shares of the business services provider’s stock after selling 1,420 shares during the quarter. Automatic Data Processing accounts for 3.4% of Notis McConarty Edward’s portfolio, making the stock its 3rd largest holding. Notis McConarty Edward’s holdings in Automatic Data Processing were worth $5,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Automatic Data Processing by 2.4% in the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after purchasing an additional 811,960 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Automatic Data Processing by 0.8% in the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after purchasing an additional 237,439 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Automatic Data Processing by 2.9% in the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after purchasing an additional 190,717 shares in the last quarter. Polen Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 6.6% in the second quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after purchasing an additional 411,369 shares in the last quarter. Finally, Fundsmith LLP lifted its holdings in shares of Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after purchasing an additional 1,164,972 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $115.68 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a 1-year low of $94.11 and a 1-year high of $121.77. The stock has a market capitalization of $50,917.05, a price-to-earnings ratio of 30.70, a P/E/G ratio of 2.94 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the company earned $0.86 earnings per share. Automatic Data Processing’s quarterly revenue was up 5.6% compared to the same quarter last year. analysts predict that Automatic Data Processing will post 3.91 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be issued a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is 58.02%.

ADP has been the subject of a number of research analyst reports. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. BMO Capital Markets reduced their target price on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Bank of America increased their target price on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Barclays reiterated an “equal weight” rating and set a $105.00 price objective on shares of Automatic Data Processing in a report on Tuesday, August 15th. Finally, Citigroup reiterated a “neutral” rating and set a $110.00 price objective (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $112.37.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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