Fmr LLC Has $348.99 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

FMR LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 36.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,261,129 shares of the business services provider's stock after selling 713,664 shares during the period. FMR LLC owned approximately 0.31% of Automatic Data Processing worth $348,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing during the second quarter worth approximately $27,000. Hexagon Capital Partners LLC grew its position in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock worth $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Automatic Data Processing during the 3rd quarter worth $35,000. MFA Wealth Advisors LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $40,000. Finally, New Millennium Group LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $40,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP traded up $0.01 during trading hours on Friday, reaching $306.93. The stock had a trading volume of 805,046 shares, compared to its average volume of 1,561,798. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.63. The stock has a market capitalization of $125.06 billion, a PE ratio of 32.76, a PEG ratio of 3.57 and a beta of 0.79. The company's 50-day moving average is $292.45 and its two-hundred day moving average is $268.30.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Automatic Data Processing's previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing's payout ratio is presently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. The trade was a 17.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Don Mcguire sold 3,179 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares of the company's stock, valued at $11,440,548.48. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,504 shares of company stock worth $20,298,056. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADP. Citigroup boosted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an "underweight" rating in a report on Tuesday, August 20th. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average target price of $289.91.

Automatic Data Processing Company 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.