Automatic Data Processing, Inc. $ADP Stock Position Lowered by Financial Advisors Network Inc.

Key Points

• Financial Advisors Network Inc. reduced its stake in Automatic Data Processing, Inc. (ADP) by 4.9%, holding 17,232 shares valued at approximately $5.26 million, making it the firm's 26th largest investment.
• Several large investors increased their holdings, with GAMMA Investing LLC significantly expanding its stake by 34,655.1% in the same period.
• Automatic Data Processing announced a quarterly dividend of $1.54 per share to be paid on October 1st, representing a 2.0% dividend yield annually.

Financial Advisors Network Inc. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,232 shares of the business services provider's stock after selling 889 shares during the period. Automatic Data Processing accounts for 0.9% of Financial Advisors Network Inc.'s investment portfolio, making the stock its 26th biggest holding. Financial Advisors Network Inc.'s holdings in Automatic Data Processing were worth $5,265,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after buying an additional 2,892,660 shares in the last quarter. Nuveen LLC acquired a new stake in Automatic Data Processing in the first quarter valued at approximately $661,771,000. Northern Trust Corp grew its position in Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock worth $1,807,438,000 after acquiring an additional 902,354 shares in the last quarter. Mackenzie Financial Corp grew its position in Automatic Data Processing by 128.1% in the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock worth $484,480,000 after acquiring an additional 890,440 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Automatic Data Processing by 811.7% during the 1st quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock worth $194,806,000 after purchasing an additional 567,664 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. UBS Group lowered their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus boosted their target price on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $314.33.

Automatic Data Processing Trading Up 0.0%

Automatic Data Processing stock opened at $301.79 on Monday. The company has a market cap of $122.24 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 2.77 and a beta of 0.81. The firm has a 50-day moving average of $305.74 and a 200-day moving average of $305.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a one year low of $262.21 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. Automatic Data Processing's payout ratio is presently 61.72%.

Automatic Data Processing 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.

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