Vident Investment Advisory LLC Acquires Shares of 3,215 Automatic Data Processing (ADP)

Vident Investment Advisory LLC acquired a new position in Automatic Data Processing (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,215 shares of the business services provider’s stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. Acrospire Investment Management LLC bought a new stake in Automatic Data Processing during the second quarter valued at about $102,000. Proficio Capital Partners LLC grew its holdings in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 17 shares during the period. Grove Bank & Trust grew its holdings in Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 170 shares during the period. Armbruster Capital Management Inc. grew its holdings in Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 32 shares during the period. Finally, San Francisco Sentry Investment Group CA bought a new stake in Automatic Data Processing during the second quarter valued at about $136,000. 78.67% of the stock is owned by institutional investors.

Automatic Data Processing (NASDAQ ADP) opened at $117.19 on Monday. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The company has a market capitalization of $51,972.56, a PE ratio of 29.82, a PEG ratio of 2.90 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. sell-side analysts predict that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a $0.63 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s payout ratio is currently 64.12%.

Several analysts have issued reports on ADP shares. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Royal Bank of Canada reissued a “hold” rating and set a $95.00 price target on shares of Automatic Data Processing in a report on Friday, September 15th. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and set a $108.00 price target on shares of Automatic Data Processing in a report on Wednesday, October 4th. Finally, Bank of America boosted their price target on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $114.14.

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Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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