Schwab Charles Investment Management Inc. increased its position in Automatic Data Processing (NYSE:ADP) by 5.6% during the first quarter, Holdings Channel reports. The firm owned 2,059,389 shares of the business services provider’s stock after buying an additional 109,415 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Automatic Data Processing were worth $210,861,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADP. Macquarie Group Ltd. increased its position in shares of Automatic Data Processing by 38.0% in the fourth quarter. Macquarie Group Ltd. now owns 22,900 shares of the business services provider’s stock worth $2,353,000 after buying an additional 6,300 shares during the period. National Pension Service increased its stake in shares of Automatic Data Processing by 2.8% in the first quarter. National Pension Service now owns 342,140 shares of the business services provider’s stock worth $34,956,000 after buying an additional 9,337 shares during the last quarter. First American Bank increased its stake in shares of Automatic Data Processing by 19.6% in the first quarter. First American Bank now owns 27,631 shares of the business services provider’s stock worth $2,829,000 after buying an additional 4,536 shares during the last quarter. First National Bank of Omaha increased its stake in shares of Automatic Data Processing by 22.3% in the first quarter. First National Bank of Omaha now owns 8,374 shares of the business services provider’s stock worth $857,000 after buying an additional 1,529 shares during the last quarter. Finally, Marathon Asset Management LLP increased its stake in shares of Automatic Data Processing by 9.0% in the first quarter. Marathon Asset Management LLP now owns 370,072 shares of the business services provider’s stock worth $38,086,000 after buying an additional 30,517 shares during the last quarter.

Shares of Automatic Data Processing (NYSE ADP) traded down 0.08% on Friday, hitting $108.81. The company had a trading volume of 4,639,179 shares. The stock has a market capitalization of $48.35 billion and a PE ratio of 28.26. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The firm’s 50 day moving average price is $106.27 and its 200-day moving average price is $102.61.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. Analysts forecast that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, September 7th.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/08/12/schwab-charles-investment-management-inc-has-210-86-million-stake-in-automatic-data-processing-adp.html.

A number of brokerages have weighed in on ADP. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Wednesday. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. Robert W. Baird reiterated a “neutral” rating and issued a $95.00 target price on shares of Automatic Data Processing in a report on Sunday, July 30th. Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 target price for the company. in a report on Friday, June 2nd. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $104.96.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the sale, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 1,933 shares of Automatic Data Processing stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The disclosure for this sale can be found here. In the last three months, insiders sold 90,620 shares of company stock valued at $9,435,757.

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 (NYSE:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NYSE: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.