Automatic Data Processing, Inc. (NASDAQ:ADP) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,353,555 shares of the business services provider’s stock after buying an additional 79,809 shares during the quarter. Hsbc Holdings PLC owned approximately 0.33% of Automatic Data Processing worth $323,308,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Gryphon Financial Partners LLC increased its holdings in shares of Automatic Data Processing by 105.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after purchasing an additional 1,034 shares during the period. Norges Bank acquired a new position in Automatic Data Processing in the 4th quarter valued at approximately $308,321,000. Gladstone Institutional Advisory LLC lifted its position in Automatic Data Processing by 22.6% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 5,231 shares of the business services provider’s stock worth $1,219,000 after buying an additional 966 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Automatic Data Processing by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 539,551 shares of the business services provider’s stock valued at $125,704,000 after buying an additional 3,666 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $793,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.3 %

Automatic Data Processing stock opened at $279.41 on Wednesday. The stock has a market cap of $114.36 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $281.54. The business has a 50 day moving average price of $262.31 and a two-hundred day moving average price of $250.94.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

ADP has been the topic of several research reports. Bank of America upped their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $265.36.

Insider Activity

In related news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Company 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.