Polen Capital Management LLC Has $50.88 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Polen Capital Management LLC reduced its holdings in Automatic Data Processing, Inc. (ADP) by 7.4%, now owning 166,526 shares valued at approximately $50.88 million after selling 13,223 shares in the first quarter.
• Institutional investors currently own 80.03% of ADP's stock, with Brighton Jones LLC notably increasing its stake by 92.1% in the previous quarter.
• Recently, analysts have updated their price targets for ADP, with the consensus price target now at $314.33 and a prevailing rating of "Hold" among research firms.

Polen Capital Management LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 166,526 shares of the business services provider's stock after selling 13,223 shares during the period. Polen Capital Management LLC's holdings in Automatic Data Processing were worth $50,879,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of Automatic Data Processing by 3.7% in the first quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider's stock valued at $1,231,809,000 after acquiring an additional 145,161 shares in the last quarter. Fiduciary Family Office LLC acquired a new position in shares of Automatic Data Processing in the first quarter valued at approximately $1,080,000. Taylor Financial Group Inc. purchased a new stake in shares of Automatic Data Processing in the first quarter valued at $238,000. Benjamin Edwards Inc. increased its stake in shares of Automatic Data Processing by 12.8% during the 1st quarter. Benjamin Edwards Inc. now owns 228,488 shares of the business services provider's stock valued at $69,810,000 after acquiring an additional 25,972 shares during the last quarter. Finally, Lcnb Corp grew its holdings in Automatic Data Processing by 14.3% in the first quarter. Lcnb Corp now owns 5,593 shares of the business services provider's stock valued at $1,709,000 after purchasing an additional 701 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP traded down $4.09 during mid-day trading on Tuesday, hitting $299.63. The company's stock had a trading volume of 1,280,014 shares, compared to its average volume of 1,490,098. Automatic Data Processing, Inc. has a one year low of $259.08 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $121.36 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 2.79 and a beta of 0.81. The stock's 50-day moving average is $307.69 and its two-hundred day moving average is $305.58.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping 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%. Automatic Data Processing's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $2.09 earnings per share. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. UBS Group decreased their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Mizuho upped their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and an average target price of $314.33.

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.