BB&T Securities LLC grew its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,193 shares of the business services provider’s stock after acquiring an additional 859 shares during the period. BB&T Securities LLC’s holdings in Automatic Data Processing were worth $15,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ADP. Winslow Capital Management LLC boosted its holdings in Automatic Data Processing by 32.3% in the 2nd quarter. Winslow Capital Management LLC now owns 2,051,567 shares of the business services provider’s stock worth $275,197,000 after buying an additional 500,640 shares during the period. Laurion Capital Management LP bought a new position in Automatic Data Processing in the 2nd quarter worth $604,000. Twin Capital Management Inc. boosted its holdings in Automatic Data Processing by 412.3% in the 2nd quarter. Twin Capital Management Inc. now owns 76,490 shares of the business services provider’s stock worth $10,260,000 after buying an additional 61,560 shares during the period. Glen Harbor Capital Management LLC boosted its holdings in Automatic Data Processing by 4.1% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 27,710 shares of the business services provider’s stock worth $3,717,000 after buying an additional 1,088 shares during the period. Finally, Rampart Investment Management Company LLC boosted its holdings in Automatic Data Processing by 44.3% in the 2nd quarter. Rampart Investment Management Company LLC now owns 13,369 shares of the business services provider’s stock worth $1,793,000 after buying an additional 4,103 shares during the period. 79.01% of the stock is owned by hedge funds and other institutional investors.

Shares of ADP stock opened at $146.73 on Friday. The firm has a market capitalization of $64.52 billion, a price-to-earnings ratio of 33.94, a P/E/G ratio of 2.51 and a beta of 0.91. Automatic Data Processing has a 52 week low of $106.25 and a 52 week high of $147.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. equities analysts expect that Automatic Data Processing will post 5.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, September 13th. Automatic Data Processing’s payout ratio is currently 63.45%.

Several research analysts recently weighed in on ADP shares. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a report on Monday, May 21st. Argus upped their target price on shares of Automatic Data Processing from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, June 4th. Guggenheim started coverage on shares of Automatic Data Processing in a report on Monday, August 20th. They issued a “buy” rating and a $175.00 target price for the company. Finally, Morgan Stanley upped their target price on shares of Automatic Data Processing from $122.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 13th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $141.07.

In other Automatic Data Processing news, VP Brock Albinson sold 3,345 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total value of $482,850.75. Following the sale, the vice president now owns 6,081 shares in the company, valued at approximately $877,792.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael A. Bonarti sold 2,372 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $132.66, for a total transaction of $314,669.52. Following the completion of the sale, the insider now owns 41,023 shares in the company, valued at approximately $5,442,111.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,188 shares of company stock worth $2,260,110. Corporate insiders own 0.25% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Further Reading: Fundamental Analysis and Choosing Stocks

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 (NASDAQ:ADP).

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.