Mengis Capital Management Inc. Has $2.75 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mengis Capital Management Inc. lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 20.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,918 shares of the business services provider's stock after selling 2,502 shares during the period. Mengis Capital Management Inc.'s holdings in Automatic Data Processing were worth $2,745,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Automatic Data Processing by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider's stock worth $9,932,020,000 after purchasing an additional 173,298 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider's stock valued at $964,989,000 after buying an additional 435,093 shares during the period. Capital Research Global Investors increased its position in shares of Automatic Data Processing by 2.3% during the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider's stock worth $905,354,000 after acquiring an additional 81,869 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Automatic Data Processing by 4.1% during the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider's stock worth $846,912,000 after acquiring an additional 139,561 shares during the period. Finally, Ninety One UK Ltd lifted its position in Automatic Data Processing by 0.4% in the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider's stock valued at $610,182,000 after acquiring an additional 9,464 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADP. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Barclays boosted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. Finally, Bank of America lifted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $289.91.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $0.41 during trading on Wednesday, hitting $307.50. 1,637,821 shares of the stock were exchanged, compared to its average volume of 1,634,625. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $285.39 and a 200-day moving average price of $262.92. The stock has a market capitalization of $125.29 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the company posted $2.08 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing's dividend payout ratio (DPR) is 65.74%.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company's stock, valued at $9,781,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,792 shares of company stock worth $27,691,708 over the last quarter. Company insiders own 0.21% of the company's stock.

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.