Qtron Investments LLC Raises Stake in Automatic Data Processing, Inc. $ADP

Key Points

• Qtron Investments LLC increased its stake in Automatic Data Processing, Inc. by 31.0%, owning a total of 5,732 shares valued at approximately $1.75 million after adding 1,357 shares in the first quarter.
• Automatic Data Processing reported earnings of $2.26 per share, exceeding analyst expectations, with a revenue of $5.13 billion for the quarter, reflecting a year-over-year revenue increase of 6.3%.
• The company announced a quarterly dividend of $1.54 per share, with a dividend yield of 2.0%, scheduled for payment on October 1st.

Qtron Investments LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 31.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,732 shares of the business services provider's stock after acquiring an additional 1,357 shares during the period. Qtron Investments LLC's holdings in Automatic Data Processing were worth $1,751,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ADP. GAMMA Investing LLC lifted its position in Automatic Data Processing by 34,655.1% during 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 acquiring an additional 2,892,660 shares during the period. Nuveen LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $661,771,000. Northern Trust Corp raised its holdings 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 buying an additional 902,354 shares during the last quarter. Mackenzie Financial Corp raised its holdings 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 buying an additional 890,440 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Automatic Data Processing by 811.7% in the first quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock worth $194,806,000 after buying an additional 567,664 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.0%

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

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

Automatic Data Processing Announces Dividend

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 given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's payout ratio is 61.72%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ADP shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus lifted their target price on shares of 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 target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock 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 report on Friday, June 13th. Finally, TD Securities lifted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $314.33.

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.

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