Victory Capital Management Inc. boosted its position in Automatic Data Processing (NASDAQ:ADP) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,256 shares of the business services provider’s stock after purchasing an additional 4,146 shares during the quarter. Victory Capital Management Inc.’s holdings in Automatic Data Processing were worth $6,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at $232,000. First Hawaiian Bank purchased a new position in Automatic Data Processing in the 2nd quarter valued at $264,000. Cornerstone Wealth Management LLC purchased a new position in Automatic Data Processing in the 2nd quarter valued at $982,000. Whittier Trust Co. grew its position in Automatic Data Processing by 81.1% in the 2nd quarter. Whittier Trust Co. now owns 86,842 shares of the business services provider’s stock valued at $6,885,000 after buying an additional 38,883 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Automatic Data Processing by 6.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 19,904 shares of the business services provider’s stock valued at $1,578,000 after buying an additional 1,175 shares during the last quarter. 79.88% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Brock Albinson sold 3,345 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total value of $482,850.75. Following the completion of the transaction, the vice president now owns 6,081 shares of the company’s stock, valued at approximately $877,792.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 101,620 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $147.46, for a total transaction of $14,984,885.20. Following the completion of the transaction, the chief executive officer now directly owns 199,405 shares of the company’s stock, valued at approximately $29,404,261.30. The disclosure for this sale can be found here. Insiders sold a total of 179,767 shares of company stock worth $26,396,593 over the last quarter. Insiders own 0.33% of the company’s stock.

ADP has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Automatic Data Processing in a research report on Monday, October 1st. They issued a “hold” rating and a $160.00 price objective on the stock. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Moffett Nathanson initiated coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They set a “buy” rating and a $180.00 target price on the stock. Credit Suisse Group initiated coverage on shares of Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Argus boosted their target price on shares of Automatic Data Processing from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Automatic Data Processing presently has an average rating of “Buy” and an average target price of $151.19.

Automatic Data Processing stock opened at $143.44 on Tuesday. Automatic Data Processing has a 52 week low of $107.61 and a 52 week high of $153.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $64.15 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 2.23 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts forecast that Automatic Data Processing will post 5.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a $0.79 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a dividend yield of 2.20%. Automatic Data Processing’s payout ratio is currently 63.45%.

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Automatic Data Processing Company 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.

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

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