Mutual of America Capital Management LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,535 shares of the business services provider’s stock after purchasing an additional 571 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Automatic Data Processing were worth $13,014,000 as of its most recent filing with the Securities and Exchange Commission.
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Other institutional investors have also recently bought and sold shares of the company. Calamos Wealth Management LLC purchased a new position in Automatic Data Processing in the 3rd quarter worth about $270,000. CAPROCK Group Inc. increased its stake in Automatic Data Processing by 2.4% in the 3rd quarter. CAPROCK Group Inc. now owns 5,518 shares of the business services provider’s stock worth $1,254,000 after purchasing an additional 128 shares in the last quarter. Mather Group LLC. boosted its position in Automatic Data Processing by 4.2% during the 2nd quarter. Mather Group LLC. now owns 63,019 shares of the business services provider’s stock worth $13,236,000 after acquiring an additional 2,525 shares during the period. Bridgewater Associates LP boosted its position in Automatic Data Processing by 11.7% during the 2nd quarter. Bridgewater Associates LP now owns 87,181 shares of the business services provider’s stock worth $18,311,000 after acquiring an additional 9,116 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in Automatic Data Processing by 5.0% during the 2nd quarter. Avantax Advisory Services Inc. now owns 9,715 shares of the business services provider’s stock worth $2,041,000 after acquiring an additional 459 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.
Automatic Data Processing Stock Down 1.0 %
Shares of Automatic Data Processing stock traded down $2.23 during trading on Wednesday, hitting $223.58. 549,313 shares of the stock traded hands, compared to its average volume of 2,083,205. The stock has a market cap of $92.75 billion, a P/E ratio of 29.99, a PEG ratio of 2.28 and a beta of 0.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 0.99. Automatic Data Processing, Inc. has a twelve month low of $192.26 and a twelve month high of $274.92. The company has a fifty day moving average price of $245.95 and a two-hundred day moving average price of $241.99.
Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. Automatic Data Processing had a return on equity of 96.94% and a net margin of 18.24%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the company earned $1.65 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that Automatic Data Processing, Inc. will post 8.12 EPS for the current fiscal year.
Automatic Data Processing Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $5.00 annualized dividend and a yield of 2.24%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 66.40%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ADP. Barclays decreased their price objective on Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating for the company in a research report on Sunday. Wolfe Research raised their price objective on Automatic Data Processing from $220.00 to $225.00 in a research report on Thursday, January 5th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, January 26th. Cowen raised their price objective on Automatic Data Processing to $237.00 in a research report on Thursday, October 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $243.50.
Insider Buying and Selling
In related news, VP Donald Weinstein sold 5,075 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total value of $1,243,375.00. Following the completion of the sale, the vice president now directly owns 32,950 shares in the company, valued at approximately $8,072,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Donald Weinstein sold 5,075 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total value of $1,243,375.00. Following the completion of the sale, the vice president now directly owns 32,950 shares in the company, valued at approximately $8,072,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carlos A. Rodriguez sold 37,594 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $241.29, for a total value of $9,071,056.26. Following the completion of the transaction, the insider now directly owns 44,481 shares in the company, valued at $10,732,820.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,350 shares of company stock worth $25,301,670. 0.33% of the stock is currently owned by insiders.
About Automatic Data Processing
Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.
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Read More: Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Boosted by Mutual of America Capital