Vinva Investment Management Ltd Buys 3,872 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Vinva Investment Management Ltd boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 331.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,039 shares of the business services provider's stock after purchasing an additional 3,872 shares during the quarter. Vinva Investment Management Ltd's holdings in Automatic Data Processing were worth $1,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its position in 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 acquiring an additional 264,466 shares during the period. Plato Investment Management Ltd boosted its position in Automatic Data Processing by 23.8% during the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider's stock worth $6,352,000 after acquiring an additional 5,114 shares during the period. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth $209,000. ORG Partners LLC boosted its position in Automatic Data Processing by 2,917.1% during the 2nd quarter. ORG Partners LLC now owns 4,224 shares of the business services provider's stock worth $997,000 after acquiring an additional 4,084 shares during the period. Finally, RIA Advisory Group LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth $470,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ADP shares. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Mizuho upped their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a report on Monday, November 4th. UBS Group upped 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, Citigroup upped 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,504 shares of company stock valued at $20,298,056 in the last ninety days. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Up 0.0 %

ADP stock traded up $0.01 during mid-day trading on Friday, hitting $306.93. The stock had a trading volume of 805,046 shares, compared to its average volume of 1,632,589. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.63. The company has a fifty day moving average of $292.45 and a 200 day moving average of $267.99. The stock has a market capitalization of $125.06 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 3.57 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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 paid a dividend of $1.54 per share. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing's dividend payout ratio is presently 65.74%.

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.