Intech Investment Management LLC Has $14.59 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Intech Investment Management LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 53.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 61,137 shares of the business services provider’s stock after purchasing an additional 21,279 shares during the period. Intech Investment Management LLC’s holdings in Automatic Data Processing were worth $14,593,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ADP. Gryphon Financial Partners LLC lifted its stake in shares of Automatic Data Processing by 105.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after purchasing an additional 1,034 shares during the period. Assetmark Inc. increased its holdings in Automatic Data Processing by 9.5% in the fourth quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock worth $674,000 after purchasing an additional 251 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Automatic Data Processing by 4.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,598 shares of the business services provider’s stock worth $372,000 after purchasing an additional 63 shares in the last quarter. InterOcean Capital Group LLC lifted its stake in Automatic Data Processing by 5.6% in the fourth quarter. InterOcean Capital Group LLC now owns 3,934 shares of the business services provider’s stock valued at $916,000 after buying an additional 207 shares during the period. Finally, AXS Investments LLC boosted its holdings in shares of Automatic Data Processing by 1.8% during the 4th quarter. AXS Investments LLC now owns 14,414 shares of the business services provider’s stock worth $3,358,000 after buying an additional 258 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.6 %

ADP stock opened at $277.69 on Friday. The firm has a market capitalization of $113.66 billion, a PE ratio of 30.99, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $281.54. The stock’s 50 day moving average is $263.99 and its 200-day moving average is $251.30.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the business earned $1.89 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP David Kwon sold 846 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADP. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Barclays increased their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus boosted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.