Intact Investment Management Inc. decreased its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,900 shares of the business services provider’s stock after selling 1,700 shares during the quarter. Intact Investment Management Inc.’s holdings in Automatic Data Processing were worth $2,175,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Automatic Data Processing by 2.4% during the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after buying an additional 811,960 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Automatic Data Processing by 0.8% during the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after buying an additional 237,439 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Automatic Data Processing by 2.9% during the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock worth $696,182,000 after buying an additional 190,717 shares in the last quarter. Polen Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 6.6% during the second quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock worth $682,578,000 after buying an additional 411,369 shares in the last quarter. Finally, Fundsmith LLP increased its position in shares of Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after purchasing an additional 1,164,972 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing (NASDAQ:ADP) opened at $115.88 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $51,409.32, a P/E ratio of 31.00, a P/E/G ratio of 2.87 and a beta of 0.85. Automatic Data Processing has a 12 month low of $94.11 and a 12 month high of $121.77.

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

The business also recently disclosed 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. 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 dividend yield of 2.17%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s payout ratio is currently 58.02%.

A number of brokerages recently commented on ADP. Sanford C. Bernstein raised their price target on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Barclays lifted their target price on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently 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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