Trust Co. of Oklahoma raised its stake in Automatic Data Processing (NASDAQ:ADP) by 175.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,394 shares of the business services provider’s stock after acquiring an additional 2,800 shares during the period. Trust Co. of Oklahoma’s holdings in Automatic Data Processing were worth $662,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Bank of Montreal Can boosted its position in shares of Automatic Data Processing by 20.4% during the third quarter. Bank of Montreal Can now owns 839,656 shares of the business services provider’s stock worth $126,503,000 after buying an additional 142,157 shares during the period. BLB&B Advisors LLC boosted its position in shares of Automatic Data Processing by 2.6% during the third quarter. BLB&B Advisors LLC now owns 42,162 shares of the business services provider’s stock worth $6,352,000 after buying an additional 1,059 shares during the period. KAMES CAPITAL plc acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $316,000. Spearhead Capital Advisors LLC boosted its position in shares of Automatic Data Processing by 0.8% during the third quarter. Spearhead Capital Advisors LLC now owns 47,246 shares of the business services provider’s stock worth $7,054,000 after buying an additional 373 shares during the period. Finally, Baxter Bros Inc. boosted its position in shares of Automatic Data Processing by 7.9% during the third quarter. Baxter Bros Inc. now owns 52,501 shares of the business services provider’s stock worth $7,910,000 after buying an additional 3,832 shares during the period. Institutional investors own 77.73% of the company’s stock.

ADP has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on Automatic Data Processing in a research report on Monday, October 1st. They set a “hold” rating and a $160.00 price objective for the company. Credit Suisse Group initiated coverage on Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 price objective for the company. Argus boosted their price objective on Automatic Data Processing from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Guggenheim initiated coverage on Automatic Data Processing in a research report on Monday, August 20th. They set a “buy” rating and a $175.00 price objective for the company. Finally, Wolfe Research started coverage on Automatic Data Processing in a research report on Tuesday, July 17th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $144.47.

In other Automatic Data Processing news, VP Brock Albinson sold 3,345 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total value of $482,850.75. Following the transaction, the vice president now owns 6,081 shares of the company’s stock, valued at $877,792.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael C. Eberhard sold 9,100 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $150.00, for a total value of $1,365,000.00. Following the completion of the transaction, the vice president now directly owns 48,468 shares in the company, valued at approximately $7,270,200. The disclosure for this sale can be found here. Insiders sold 15,919 shares of company stock worth $2,351,933 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

Shares of NASDAQ:ADP opened at $140.72 on Friday. The company has a market cap of $65.90 billion, a P/E ratio of 32.35, a PEG ratio of 2.57 and a beta of 0.92. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. As a group, analysts anticipate that Automatic Data Processing will post 5.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.76 annualized dividend and a dividend yield of 1.96%. Automatic Data Processing’s dividend payout ratio is currently 63.45%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Further Reading: Beta

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.