Jensen Investment Management Inc. Sells 99,295 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Jensen Investment Management Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,755,115 shares of the business services provider’s stock after selling 99,295 shares during the quarter. Automatic Data Processing comprises approximately 4.1% of Jensen Investment Management Inc.’s holdings, making the stock its 8th largest holding. Jensen Investment Management Inc. owned 0.43% of Automatic Data Processing worth $485,693,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ADP. BlueSpruce Investments LP bought a new position in shares of Automatic Data Processing in the 1st quarter valued at about $365,757,000. International Assets Investment Management LLC increased its stake in Automatic Data Processing by 28,478.6% in the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after acquiring an additional 1,190,407 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after buying an additional 552,096 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.0 %

ADP stock traded down $0.12 during trading on Friday, hitting $304.73. The company had a trading volume of 1,552,646 shares, compared to its average volume of 1,607,719. The firm has a market capitalization of $124.17 billion, a P/E ratio of 32.52, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $225.38 and a 52-week high of $306.92. The company has a 50 day simple moving average of $284.12 and a 200-day simple moving average of $261.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective 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. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Bank of America increased their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, TD Cowen increased their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $289.91.

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Automatic Data Processing Profile

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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.

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

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