Automatic Data Processing (NYSE:ADP) Stake Raised by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its stake in Automatic Data Processing (NYSE:ADP) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,800 shares of the business services provider’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Automatic Data Processing were worth $2,848,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ADP. Goelzer Investment Management Inc. boosted its position in Automatic Data Processing by 0.3% in the first quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock worth $434,000 after buying an additional 12 shares during the period. Guardian Life Insurance Co. of America boosted its position in Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the period. Flagship Harbor Advisors LLC increased its position in Automatic Data Processing by 0.6% in the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after buying an additional 16 shares in the last quarter. Middleton & Co Inc MA increased its position in Automatic Data Processing by 0.4% in the first quarter. Middleton & Co Inc MA now owns 5,306 shares of the business services provider’s stock worth $543,000 after buying an additional 20 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Automatic Data Processing by 0.6% in the first quarter. Parallel Advisors LLC now owns 4,495 shares of the business services provider’s stock worth $438,000 after buying an additional 26 shares in the last quarter.

Automatic Data Processing (NYSE:ADP) traded down 0.08% on Friday, reaching $108.81. 4,639,179 shares of the company’s stock were exchanged. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The firm’s 50 day moving average price is $106.27 and its 200 day moving average price is $102.61. The company has a market cap of $48.35 billion and a PE ratio of 28.26.

Automatic Data Processing (NYSE:ADP) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business earned $0.69 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts expect that Automatic Data Processing will post $3.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.10%.

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Several research analysts have recently commented on ADP shares. Argus lowered their target price on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a report on Wednesday, May 31st. Barclays PLC reaffirmed a “buy” rating on shares of Automatic Data Processing in a report on Thursday, April 27th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and issued a $108.00 price objective (up from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $104.96.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The disclosure for this sale can be found here. Insiders sold a total of 90,620 shares of company stock worth $9,435,757 in the last 90 days.

About Automatic Data Processing

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.

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

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