Wheatland Advisors Inc. Lowers Holdings in Automatic Data Processing (NASDAQ:ADP)

Wheatland Advisors Inc. lessened its stake in Automatic Data Processing (NASDAQ:ADP) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,900 shares of the business services provider’s stock after selling 100 shares during the quarter. Automatic Data Processing accounts for approximately 1.5% of Wheatland Advisors Inc.’s holdings, making the stock its 21st biggest position. Wheatland Advisors Inc.’s holdings in Automatic Data Processing were worth $1,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Comerica Securities Inc. increased its position in shares of Automatic Data Processing by 411.2% during the fourth quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock worth $5,611,000 after acquiring an additional 34,216 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Automatic Data Processing by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock worth $170,354,000 after acquiring an additional 49,730 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Automatic Data Processing by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after acquiring an additional 496,843 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Automatic Data Processing during the first quarter worth $2,368,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Automatic Data Processing by 25.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,600 shares of the business services provider’s stock worth $1,375,000 after acquiring an additional 1,745 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of Automatic Data Processing stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the sale, the vice president now owns 14,896 shares in the company, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.

Shares of NASDAQ ADP traded down $4.73 during mid-day trading on Friday, reaching $164.80. 1,185,829 shares of the company were exchanged, compared to its average volume of 2,078,795. The company’s 50-day simple moving average is $166.31 and its 200-day simple moving average is $160.65. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $73.57 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.12 and a beta of 0.91. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. Automatic Data Processing’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. As a group, equities research analysts expect that Automatic Data Processing will post 6.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is 57.98%.

Several equities research analysts have recently issued reports on ADP shares. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Citigroup raised their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, ValuEngine downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $174.00.

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

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