E Fund Management Co. Ltd. Buys 68 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

E Fund Management Co. Ltd. lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,111 shares of the business services provider’s stock after acquiring an additional 68 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Automatic Data Processing were worth $981,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. TD Asset Management Inc lifted its holdings in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after purchasing an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after purchasing an additional 264,466 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after purchasing an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new position in Automatic Data Processing in the 1st quarter worth approximately $2,924,000. Finally, LVW Advisors LLC lifted its holdings in Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after purchasing an additional 740 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

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

Automatic Data Processing Stock Down 1.3 %

Shares of ADP opened at $275.91 on Thursday. The company has a market cap of $112.93 billion, a PE ratio of 30.79, a P/E/G ratio of 3.02 and a beta of 0.79. The business has a fifty day moving average of $263.15 and a 200 day moving average of $251.11. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $281.54. 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 (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the company earned $1.89 earnings per share. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

A number of research firms recently commented on ADP. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Jefferies Financial Group upped their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Barclays upped their price objective 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 upped their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target 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.