Westpac Banking Corp reduced its position in Automatic Data Processing (NASDAQ:ADP) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,169 shares of the business services provider’s stock after selling 644 shares during the quarter. Westpac Banking Corp’s holdings in Automatic Data Processing were worth $3,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after acquiring an additional 811,960 shares during the period. BlackRock Inc. boosted its holdings in Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after acquiring an additional 237,439 shares during the period. Wells Fargo & Company MN boosted its holdings in Automatic Data Processing by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after acquiring an additional 190,717 shares during the period. Polen Capital Management LLC boosted its holdings in Automatic Data Processing by 6.6% during the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after acquiring an additional 411,369 shares during the period. Finally, Fundsmith LLP boosted its holdings in Automatic Data Processing by 29.0% during the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after acquiring an additional 1,164,972 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Several brokerages recently weighed in on ADP. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank Of Canada restated a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a report on Friday, September 15th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Sanford C. Bernstein increased their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 price objective on shares of Automatic Data Processing in a report on Wednesday, October 4th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $112.37.

Automatic Data Processing (ADP) opened at $116.02 on Friday. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The stock has a market capitalization of $51,391.58, a P/E ratio of 30.98, a PEG ratio of 2.87 and a beta of 0.85. 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 (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. research analysts expect that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is currently 64.12%.

ILLEGAL ACTIVITY WARNING: “Westpac Banking Corp Cuts Stake in Automatic Data Processing (ADP)” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this article on another publication, it was illegally copied and republished in violation of United States & international trademark and copyright law. The legal version of this article can be read at https://www.dailypolitical.com/2017/12/10/westpac-banking-corp-cuts-stake-in-automatic-data-processing-adp.html.

Automatic Data Processing 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.

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.