Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Raised by Virtu Financial LLC

Virtu Financial LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 202.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,870 shares of the business services provider's stock after purchasing an additional 3,261 shares during the quarter. Virtu Financial LLC's holdings in Automatic Data Processing were worth $1,348,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider's stock valued at $5,098,541,000 after buying an additional 424,328 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider's stock valued at $2,906,257,000 after acquiring an additional 286,080 shares during the last quarter. Ameriprise Financial Inc. increased its position in Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider's stock worth $964,989,000 after purchasing an additional 435,093 shares in the last quarter. Legal & General Group Plc increased its position in Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider's stock worth $846,912,000 after purchasing an additional 139,561 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Automatic Data Processing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider's stock valued at $896,197,000 after purchasing an additional 41,709 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Barclays lifted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Finally, Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. 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.com, the company has an average rating of "Hold" and a consensus target price of $289.91.

Automatic Data Processing Trading Down 0.2 %

Shares of NASDAQ ADP traded down $0.45 during midday trading on Friday, hitting $296.76. The stock had a trading volume of 1,620,501 shares, compared to its average volume of 1,645,547. 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, Inc. has a 1-year low of $227.12 and a 1-year high of $309.63. The company has a market capitalization of $120.92 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.50 and a beta of 0.79. The company has a fifty day moving average price of $296.79 and a 200 day moving average price of $271.23.

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

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's payout ratio is currently 59.77%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction 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 transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.