R. G. Niederhoffer Capital Management Inc. purchased a new position in Automatic Data Processing (NASDAQ:ADP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the business services provider’s stock, valued at approximately $219,000. Automatic Data Processing makes up approximately 1.4% of R. G. Niederhoffer Capital Management Inc.’s investment portfolio, making the stock its 27th biggest holding.

A number of other hedge funds also recently made changes to their positions in the business. Guardian Life Insurance Co. of America raised its position in shares of Automatic Data Processing by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after buying an additional 12 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Automatic Data Processing by 0.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock valued at $282,000 after buying an additional 16 shares in the last quarter. Personal Capital Advisors Corp raised its position in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after buying an additional 16 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC raised its position in shares of Automatic Data Processing by 0.5% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock valued at $458,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Shares of Automatic Data Processing (ADP) opened at $116.46 on Friday. 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 has a 1 year low of $94.11 and a 1 year high of $121.77. The firm has a market cap of $51,897.16, a PE ratio of 31.29, a P/E/G ratio of 2.90 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given 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 yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is 64.12%.

Several brokerages have recently issued reports on ADP. Royal Bank of Canada restated a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a research report on Friday, September 15th. Citigroup restated a “neutral” rating and set a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a research report on Thursday, August 17th. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. BMO Capital Markets restated a “market perform” rating and set a $105.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Wednesday, November 8th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $114.17.

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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.

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

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