Sienna Gestion Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sienna Gestion boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 22,667 shares of the business services provider’s stock after buying an additional 268 shares during the quarter. Sienna Gestion’s holdings in Automatic Data Processing were worth $5,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its holdings in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Automatic Data Processing by 70.7% during the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after buying an additional 264,466 shares during the period. SG Americas Securities LLC grew its stake in shares of Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at $2,924,000. Finally, LVW Advisors LLC raised its holdings in shares of Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after buying an additional 740 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. In the last three months, insiders sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 1.3 %

Shares of NASDAQ ADP opened at $275.91 on Thursday. The business has a 50-day moving average of $263.15 and a two-hundred day moving average of $251.11. The company has a market capitalization of $112.93 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

ADP has been the subject of several research reports. Jefferies Financial Group lifted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Bank of America upped their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $265.36.

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.