Hartford Investment Management Co. decreased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,323 shares of the business services provider’s stock after selling 1,474 shares during the period. Hartford Investment Management Co.’s holdings in Automatic Data Processing were worth $15,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Moneta Group Investment Advisors LLC bought a new position in Automatic Data Processing in the 3rd quarter valued at approximately $353,000. Schwab Charles Investment Management Inc. lifted its stake in Automatic Data Processing by 2.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 2,204,330 shares of the business services provider’s stock valued at $240,978,000 after purchasing an additional 60,438 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Automatic Data Processing by 25.1% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 5,530 shares of the business services provider’s stock valued at $604,000 after purchasing an additional 1,110 shares during the last quarter. Grove Bank & Trust lifted its stake in Automatic Data Processing by 57.5% in the 3rd quarter. Grove Bank & Trust now owns 1,902 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 694 shares during the last quarter. Finally, Zeke Capital Advisors LLC lifted its stake in Automatic Data Processing by 54.3% in the 3rd quarter. Zeke Capital Advisors LLC now owns 6,815 shares of the business services provider’s stock valued at $745,000 after purchasing an additional 2,398 shares during the last quarter. Institutional investors and hedge funds own 78.67% of the company’s stock.

ADP has been the subject of several analyst reports. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. BMO Capital Markets dropped their price target on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Bank of America raised their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Morgan Stanley raised shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target for the company in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada dropped their price target on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research note on Monday, November 6th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $114.14.

Automatic Data Processing (NASDAQ ADP) opened at $117.26 on Thursday. Automatic Data Processing has a 52 week low of $94.11 and a 52 week high of $121.77. The firm has a market cap of $51,835.07, a price-to-earnings ratio of 29.84, a P/E/G ratio of 2.90 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.12%.

WARNING: “Hartford Investment Management Co. Has $15.23 Million Position in Automatic Data Processing (ADP)” was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://theolympiareport.com/2017/12/28/hartford-investment-management-co-has-15-23-million-position-in-automatic-data-processing-adp.html.

Automatic Data Processing Company Profile

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.

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 (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 Analyst Ratings Network's FREE daily email newsletter.