TD Asset Management Inc. Buys 33,618 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

TD Asset Management Inc. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 413,745 shares of the business services provider’s stock after acquiring an additional 33,618 shares during the period. TD Asset Management Inc.’s holdings in Automatic Data Processing were worth $57,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Morgan Stanley increased its holdings in Automatic Data Processing by 6.5% in the 1st quarter. Morgan Stanley now owns 11,440,067 shares of the business services provider’s stock valued at $1,563,628,000 after acquiring an additional 702,522 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Automatic Data Processing by 14.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 36,512 shares of the business services provider’s stock worth $5,436,000 after buying an additional 4,478 shares in the last quarter. Nwam LLC grew its stake in shares of Automatic Data Processing by 4.0% in the 2nd quarter. Nwam LLC now owns 2,904 shares of the business services provider’s stock worth $432,000 after buying an additional 113 shares in the last quarter. Tarbox Family Office Inc. grew its stake in shares of Automatic Data Processing by 86.3% in the 2nd quarter. Tarbox Family Office Inc. now owns 300 shares of the business services provider’s stock worth $45,000 after buying an additional 139 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Automatic Data Processing by 11.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 186,115 shares of the business services provider’s stock worth $27,711,000 after buying an additional 19,424 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

In other news, VP Brian L. Michaud sold 250 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $148.00, for a total value of $37,000.00. Following the completion of the sale, the vice president now owns 6,112 shares in the company, valued at approximately $904,576. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 52,229 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $136.85, for a total transaction of $7,147,538.65. Following the completion of the sale, the chief executive officer now owns 116,284 shares of the company’s stock, valued at approximately $15,913,465.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,459 shares of company stock valued at $19,660,527. 0.34% of the stock is owned by corporate insiders.

Automatic Data Processing stock opened at $171.27 on Friday. The stock has a market cap of $73.44 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.62 and a beta of 0.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08. Automatic Data Processing, Inc. has a 1 year low of $103.11 and a 1 year high of $182.32. The firm has a 50-day moving average of $155.67 and a two-hundred day moving average of $145.52.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.44. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. During the same period in the previous year, the company earned $1.34 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 5.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 11th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.17%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.91. The ex-dividend date is Thursday, December 10th. Automatic Data Processing’s payout ratio is 61.49%.

A number of equities analysts have commented on ADP shares. Cowen cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $150.00 to $143.00 in a research note on Monday, September 21st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday, November 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $138.00 to $151.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Wolfe Research cut shares of Automatic Data Processing from a “market perform” rating to an “underperform” rating in a research note on Thursday, July 30th. Finally, Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating and set a $146.00 price target for the company in a research note on Wednesday, September 30th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $159.93.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

Featured Article: How is a buy-side analyst different from a sell-side analyst?

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.