Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 896.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,548 shares of the business services provider's stock after purchasing an additional 27,482 shares during the quarter. Automatic Data Processing accounts for 0.9% of Entropy Technologies LP's portfolio, making the stock its 7th biggest position. Entropy Technologies LP's holdings in Automatic Data Processing were worth $8,454,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. BlueSpruce Investments LP purchased a new position in shares of Automatic Data Processing during the first quarter worth $365,757,000. International Assets Investment Management LLC lifted its holdings in Automatic Data Processing by 28,478.6% in the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider's stock worth $3,305,780,000 after acquiring an additional 1,190,407 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider's stock valued at $195,797,000 after acquiring an additional 552,096 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Automatic Data Processing by 242.4% during the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider's stock valued at $153,749,000 after buying an additional 456,027 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider's stock worth $964,989,000 after purchasing an additional 435,093 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a research report on Tuesday, August 20th. Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Bank of America boosted their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two 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 a consensus price target of $289.91.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company'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 transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 32,604 shares of the company's stock, valued at $9,781,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company's stock, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,792 shares of company stock valued at $27,691,708 over the last ninety days. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Performance

ADP stock traded up $1.13 during midday trading on Tuesday, reaching $307.91. The company had a trading volume of 1,711,193 shares, compared to its average volume of 1,634,606. Automatic Data Processing, Inc. has a fifty-two week low of $226.09 and a fifty-two week high of $309.21. The firm has a market capitalization of $125.46 billion, a PE ratio of 32.74, a P/E/G ratio of 3.55 and a beta of 0.79. The stock has a 50 day moving average price of $284.74 and a 200 day moving average price of $262.46. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. Analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. 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. Automatic Data Processing's payout ratio is presently 59.77%.

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.