Twin Capital Management Inc. Has $13.54 Million Stock Holdings in Automatic Data Processing (NASDAQ:ADP)

Twin Capital Management Inc. boosted its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.8% in the second quarter, Holdings Channel.com reports. The fund owned 81,920 shares of the business services provider’s stock after buying an additional 640 shares during the quarter. Automatic Data Processing comprises 0.9% of Twin Capital Management Inc.’s holdings, making the stock its 26th largest holding. Twin Capital Management Inc.’s holdings in Automatic Data Processing were worth $13,544,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ronna Sue Cohen grew its holdings in shares of Automatic Data Processing by 15,564.1% in the 1st quarter. Ronna Sue Cohen now owns 3,468,349 shares of the business services provider’s stock valued at $3,468,000 after buying an additional 3,446,207 shares during the period. Thoroughbred Financial Services LLC grew its holdings in shares of Automatic Data Processing by 17,208.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock valued at $72,921,000 after buying an additional 724,995 shares during the period. Ellis Investment Partners LLC grew its holdings in shares of Automatic Data Processing by 15,521.9% in the 1st quarter. Ellis Investment Partners LLC now owns 708,766 shares of the business services provider’s stock valued at $708,000 after buying an additional 704,229 shares during the period. Geode Capital Management LLC grew its holdings in shares of Automatic Data Processing by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock valued at $819,520,000 after buying an additional 496,843 shares during the period. Finally, Investec Asset Management LTD grew its holdings in shares of Automatic Data Processing by 217.5% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock valued at $40,267,000 after buying an additional 444,270 shares during the period. 80.23% of the stock is owned by hedge funds and other institutional investors.

ADP traded up $1.38 during trading on Thursday, hitting $165.22. The company had a trading volume of 476,406 shares, compared to its average volume of 2,128,594. The stock has a market capitalization of $71.98 billion, a P/E ratio of 30.32, a PEG ratio of 2.07 and a beta of 0.91. Automatic Data Processing has a one year low of $121.40 and a one year high of $172.00. The stock has a 50-day moving average of $165.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.13 by $0.01. The business had revenue of $3.50 billion for 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%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. Equities research analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 annualized dividend and a yield of 1.91%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.98%.

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

Several brokerages have recently issued reports on ADP. Sanford C. Bernstein lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup boosted their price objective 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. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $174.10.

Automatic Data Processing Company 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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