Automatic Data Processing (NASDAQ:ADP) is Caldera Capital LLC’s 7th Largest Position

Caldera Capital LLC lifted its holdings in Automatic Data Processing (NASDAQ:ADP) by 53.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,408 shares of the business services provider’s stock after purchasing an additional 24,087 shares during the quarter. Automatic Data Processing accounts for about 6.6% of Caldera Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Caldera Capital LLC’s holdings in Automatic Data Processing were worth $11,475,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Thoroughbred Financial Services LLC grew its holdings in Automatic Data Processing by 17,208.5% during the second quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock valued at $72,921,000 after purchasing an additional 724,995 shares during the period. Geode Capital Management LLC grew its holdings in Automatic Data Processing by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock valued at $819,520,000 after purchasing an additional 496,843 shares during the period. Investec Asset Management LTD boosted its stake in shares of Automatic Data Processing by 217.5% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock worth $40,267,000 after acquiring an additional 444,270 shares during the period. FMR LLC boosted its stake in shares of Automatic Data Processing by 18.3% in the first quarter. FMR LLC now owns 1,703,312 shares of the business services provider’s stock worth $272,086,000 after acquiring an additional 263,615 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Automatic Data Processing in the second quarter worth about $41,361,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Shares of NASDAQ:ADP opened at $160.41 on Friday. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $174.50. The stock has a market cap of $71.31 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The business’s 50 day moving average is $167.45 and its 200 day moving average is $162.56. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. On average, sell-side analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a yield of 1.97%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.98%.

A number of equities analysts have recently weighed in on ADP shares. Barclays upped their price objective on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Cowen started coverage on Automatic Data Processing in a research note on Wednesday. They issued an “outperform” rating and a $195.00 price objective for the company. Finally, ValuEngine lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $176.10.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total transaction of $286,972.84. Following the sale, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brock Albinson sold 6,683 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total value of $1,121,875.21. Following the sale, the vice president now directly owns 6,302 shares in the company, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. Insiders have sold a total of 57,846 shares of company stock worth $9,395,534 in the last ninety days. Insiders own 0.33% of the company’s stock.

About Automatic Data Processing

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.

Read More: Understanding the Price to Earnings Ratio (PE)

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

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