Ocean Capital Management LLC raised its holdings in Automatic Data Processing (NASDAQ:ADP) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,545 shares of the business services provider’s stock after purchasing an additional 80 shares during the quarter. Ocean Capital Management LLC’s holdings in Automatic Data Processing were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Comerica Securities Inc. grew its holdings in Automatic Data Processing by 411.2% during the 4th quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock worth $5,611,000 after acquiring an additional 34,216 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Automatic Data Processing by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock worth $170,354,000 after buying an additional 49,730 shares during the period. Geode Capital Management LLC raised its holdings in Automatic Data Processing by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after buying an additional 496,843 shares during the period. First Command Bank raised its holdings in Automatic Data Processing by 7.7% during the 1st quarter. First Command Bank now owns 2,532 shares of the business services provider’s stock worth $404,000 after buying an additional 180 shares during the period. Finally, BTIM Corp. raised its holdings in Automatic Data Processing by 1.9% during the 1st quarter. BTIM Corp. now owns 697,697 shares of the business services provider’s stock worth $111,450,000 after buying an additional 13,063 shares during the period. Hedge funds and other institutional investors own 80.23% of the company’s stock.

In other news, VP Dermot J. O’brien sold 1,771 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total value of $286,972.84. Following the sale, the vice president now directly owns 14,896 shares in the company, valued at $2,413,747.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Shares of NASDAQ ADP traded up $0.80 during midday trading on Thursday, reaching $164.64. The company’s stock had a trading volume of 38,242 shares, compared to its average volume of 2,128,594. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.04. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $172.00. The company has a market cap of $71.98 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91. The stock has a 50 day simple moving average of $165.72.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $0.99 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.98%.

Several brokerages have commented on ADP. ValuEngine downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley raised their target price on shares of Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup raised their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Barclays raised their target price on shares of Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $174.10.

Automatic Data Processing Company 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.

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

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