Gotham Asset Management LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1,881.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 280,121 shares of the business services provider’s stock after acquiring an additional 265,987 shares during the period. Gotham Asset Management LLC owned 0.06% of Automatic Data Processing worth $28,701,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADP. Pacer Advisors Inc. grew its holdings in Automatic Data Processing by 4.2% during the 1st quarter. Pacer Advisors Inc. now owns 14,375 shares of the business services provider’s stock worth $1,472,000 after acquiring an additional 573 shares during the period. Covenant Multifamily Offices LLC acquired a new stake in Automatic Data Processing during the 1st quarter worth $3,141,000. Nordea Investment Management AB grew its holdings in Automatic Data Processing by 5.3% during the 1st quarter. Nordea Investment Management AB now owns 45,663 shares of the business services provider’s stock worth $4,675,000 after acquiring an additional 2,305 shares during the period. Private Advisor Group LLC grew its holdings in Automatic Data Processing by 985.2% during the 1st quarter. Private Advisor Group LLC now owns 356,179 shares of the business services provider’s stock worth $9,694,000 after acquiring an additional 323,359 shares during the period. Finally, Delta Lloyd NV grew its holdings in Automatic Data Processing by 14.5% during the 1st quarter. Delta Lloyd NV now owns 40,444 shares of the business services provider’s stock worth $4,226,000 after acquiring an additional 5,125 shares during the period. 78.41% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing, Inc. (NASDAQ ADP) opened at $111.06 on Monday. The firm has a market cap of $49,253.96, a price-to-earnings ratio of 29.69, a P/E/G ratio of 2.84 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. Automatic Data Processing, Inc. has a one year low of $93.95 and a one year high of $121.77.

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 the Zacks’ consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 EPS. analysts predict that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current year.

The business 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 $0.63 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.27%. Automatic Data Processing’s dividend payout ratio is presently 58.02%.

In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the sale, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Sunday, July 30th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus 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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