Quantinno Capital Management LP Has $12.11 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Quantinno Capital Management LP increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 35.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,766 shares of the business services provider's stock after buying an additional 11,353 shares during the quarter. Quantinno Capital Management LP's holdings in Automatic Data Processing were worth $12,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accredited Investors Inc. raised its holdings in shares of Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock valued at $640,712,000 after buying an additional 2,264,202 shares during the period. International Assets Investment Management LLC increased its position in shares of Automatic Data Processing by 28,478.6% during 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. Holocene Advisors LP acquired a new position in shares of Automatic Data Processing in the third quarter worth about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock valued at $172,497,000 after purchasing an additional 479,145 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in 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 purchasing an additional 456,027 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADP. Jefferies Financial Group increased their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. TD Cowen upped 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 note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 20th. UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Barclays boosted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, November 4th. 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 company's stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $1.83 during trading on Thursday, hitting $301.66. 1,139,424 shares of the company traded hands, compared to its average volume of 1,629,616. The stock has a market capitalization of $122.91 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 3.53 and a beta of 0.79. The business's fifty day moving average is $294.13 and its 200-day moving average is $269.30. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.63. 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 issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share 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. Stockholders 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 2.04%. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio is 59.77%.

Insider Activity

In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company's stock, valued at approximately $9,899,862.45. This trade represents a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value 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 approximately $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

About Automatic Data Processing

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.