IQ EQ FUND MANAGEMENT IRELAND Ltd Has $6.79 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,542 shares of the business services provider's stock after acquiring an additional 2,504 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Automatic Data Processing were worth $6,792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. McKinley Carter Wealth Services Inc. lifted its stake in Automatic Data Processing by 2.8% in the third quarter. McKinley Carter Wealth Services Inc. now owns 11,454 shares of the business services provider's stock valued at $3,170,000 after acquiring an additional 315 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in shares of Automatic Data Processing by 2.3% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 8,466 shares of the business services provider's stock valued at $2,343,000 after purchasing an additional 194 shares during the last quarter. Peoples Financial Services CORP. boosted its holdings in Automatic Data Processing by 2.4% in the third quarter. Peoples Financial Services CORP. now owns 2,968 shares of the business services provider's stock worth $821,000 after purchasing an additional 70 shares in the last quarter. Sunpointe LLC increased its position in Automatic Data Processing by 12.9% during the third quarter. Sunpointe LLC now owns 2,557 shares of the business services provider's stock worth $711,000 after buying an additional 293 shares during the last quarter. Finally, Bill Few Associates Inc. raised its holdings in Automatic Data Processing by 1.3% during the third quarter. Bill Few Associates Inc. now owns 13,432 shares of the business services provider's stock valued at $3,717,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Activity

In related news, VP David Kwon sold 846 shares of the 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 transaction, the vice president now owns 10,410 shares of the company's stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the company'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 sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares of the company's stock, valued at approximately $11,440,548.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company's stock.

Automatic Data Processing Trading Up 0.2 %

Automatic Data Processing stock opened at $290.70 on Thursday. The business has a 50 day moving average price of $275.45 and a two-hundred day moving average price of $256.27. 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 12 month low of $205.53 and a 12 month high of $294.18. The stock has a market cap of $118.98 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing's payout ratio is 62.50%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADP shares. Jefferies Financial Group increased their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a "hold" rating in a report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a "hold" rating in a research report on Thursday, August 1st. Finally, Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $267.83.

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.