Windward Capital Management Co. CA lifted its position in Automatic Data Processing (NASDAQ:ADP) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,465 shares of the business services provider’s stock after purchasing an additional 2,012 shares during the quarter. Windward Capital Management Co. CA’s holdings in Automatic Data Processing were worth $3,626,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ADP. Krane Funds Advisors LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth approximately $25,000. Virtus ETF Advisers LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth approximately $41,000. MRA Associates USA LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth approximately $42,000. Gradient Investments LLC lifted its position in Automatic Data Processing by 126.2% during the 3rd quarter. Gradient Investments LLC now owns 276 shares of the business services provider’s stock worth $45,000 after acquiring an additional 154 shares during the period. Finally, Hudock Capital Group LLC acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $49,000. 80.38% of the stock is owned by hedge funds and other institutional investors.
Shares of ADP traded up $1.35 during mid-day trading on Tuesday, hitting $163.81. The company’s stock had a trading volume of 74,731 shares, compared to its average volume of 1,972,204. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. The firm has a 50-day simple moving average of $163.02 and a 200 day simple moving average of $163.62. The firm has a market capitalization of $70.46 billion, a P/E ratio of 30.06, a P/E/G ratio of 2.03 and a beta of 0.90. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $174.50.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, September 12th. Automatic Data Processing’s payout ratio is currently 57.98%.
ADP has been the subject of several recent analyst reports. ValuEngine cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays raised their price target on Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird raised their price target on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a report on Friday, June 21st. Finally, Cowen initiated coverage on Automatic Data Processing in a report on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $175.67.
In related news, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the completion of the transaction, the vice president now directly owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total value of $7,986,686.40. Following the completion of the transaction, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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