Virtu Financial LLC Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Virtu Financial LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 202.7% during the third quarter, Holdings Channel reports. The institutional investor owned 4,870 shares of the business services provider’s stock after buying an additional 3,261 shares during the quarter. Virtu Financial LLC’s holdings in Automatic Data Processing were worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Unigestion Holding SA raised its stake in Automatic Data Processing by 105.4% in the third quarter. Unigestion Holding SA now owns 165,090 shares of the business services provider’s stock valued at $45,677,000 after buying an additional 84,715 shares in the last quarter. Hohimer Wealth Management LLC increased its holdings in shares of Automatic Data Processing by 1.2% in the 3rd quarter. Hohimer Wealth Management LLC now owns 13,275 shares of the business services provider’s stock valued at $3,674,000 after acquiring an additional 158 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Automatic Data Processing by 1.9% during the 3rd quarter. Toronto Dominion Bank now owns 214,797 shares of the business services provider’s stock worth $59,441,000 after acquiring an additional 4,061 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Automatic Data Processing by 13.1% during the third quarter. Coldstream Capital Management Inc. now owns 7,299 shares of the business services provider’s stock worth $2,043,000 after purchasing an additional 843 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.7 %

Shares of ADP opened at $298.75 on Friday. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $121.73 billion, a P/E ratio of 31.88, a PEG ratio of 3.54 and a beta of 0.79. The firm’s 50-day moving average is $296.51 and its two-hundred day moving average is $271.03.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is 65.74%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $289.91.

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.