Distillate Capital Partners LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Distillate Capital Partners LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 84,959 shares of the business services provider's stock, valued at approximately $20,279,000. Automatic Data Processing comprises 1.1% of Distillate Capital Partners LLC's holdings, making the stock its 23rd largest position.

Other large investors also recently made changes to their positions in the company. TD Asset Management Inc boosted its holdings in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider's stock valued at $200,256,000 after purchasing an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider's stock worth $152,405,000 after purchasing an additional 264,466 shares during the period. SG Americas Securities LLC increased its position in Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider's stock worth $12,888,000 after purchasing an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at $2,924,000. Finally, LVW Advisors LLC lifted its holdings in shares of Automatic Data Processing by 23.8% during the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider's stock valued at $962,000 after acquiring an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

ADP stock traded down $0.94 during trading on Tuesday, hitting $276.64. 1,436,858 shares of the company's stock traded hands, compared to its average volume of 1,653,297. The stock has a fifty day moving average price of $266.07 and a two-hundred day moving average price of $252.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $281.54. The stock has a market capitalization of $113.23 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing's dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

Several brokerages recently issued reports on ADP. Stifel Nicolaus increased their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Barclays boosted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a "hold" rating in a research report on Thursday, August 1st. Finally, Bank of America increased their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average price target of $265.36.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company's stock, valued at approximately $2,816,946. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Maria Black sold 19,147 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David Kwon sold 846 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company's stock, valued at $2,816,946. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last quarter. Corporate insiders own 0.26% 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.