Robeco Institutional Asset Management B.V. increased its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,215 shares of the business services provider’s stock after purchasing an additional 7,359 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.09% of Automatic Data Processing worth $60,244,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $25,000. Mackey Komara & Dankovich LLC grew its holdings in Automatic Data Processing by 428.8% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 1,084 shares of the business services provider’s stock valued at $35,000 after buying an additional 879 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $41,000. MRA Associates USA LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $42,000. Finally, Gradient Investments LLC grew its holdings in Automatic Data Processing by 126.2% in the 3rd quarter. Gradient Investments LLC now owns 276 shares of the business services provider’s stock valued at $45,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.
ADP traded up $0.63 on Friday, reaching $162.73. The stock had a trading volume of 1,787,500 shares, compared to its average volume of 1,965,491. The firm has a 50-day moving average of $161.15 and a 200-day moving average of $163.76. The company has a market capitalization of $67.94 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.96 and a beta of 0.88. The company has a current ratio of 1.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.19. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. Sell-side analysts anticipate that Automatic Data Processing will post 6.17 EPS for the current fiscal year.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total value of $7,986,686.40. Following the completion of the sale, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the completion of the sale, the vice president now directly owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
ADP has been the subject of a number of recent analyst reports. Barclays upped their target price on Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Credit Suisse Group reiterated a “buy” rating and set a $185.00 target price on shares of Automatic Data Processing in a research report on Monday, November 4th. ValuEngine downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Wolfe Research downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. Finally, Cowen assumed coverage on Automatic Data Processing in a research report on Wednesday, September 11th. They set an “outperform” rating and a $195.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $179.56.
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.
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