Automatic Data Processing, Inc. (NYSE:ADP) Position Boosted by KCM Investment Advisors LLC

KCM Investment Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,565 shares of the business services provider’s stock after buying an additional 1,255 shares during the quarter. Automatic Data Processing comprises 1.2% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. KCM Investment Advisors LLC’s holdings in Automatic Data Processing were worth $18,808,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its stake in shares of 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 valued at $178,000 after buying an additional 12 shares in the last quarter. Washington Trust Bank boosted its stake in shares of Automatic Data Processing by 0.4% in the second quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock valued at $348,000 after buying an additional 12 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of 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 valued at $282,000 after buying an additional 16 shares in the last quarter. Personal Capital Advisors Corp boosted its stake in shares of Automatic Data Processing by 0.7% in the second quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after buying an additional 16 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

In other Automatic Data Processing news, VP Maria Black sold 631 shares of the company’s stock in a transaction that occurred on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the sale, the vice president now owns 10,550 shares in the company, valued at $1,125,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the sale, the vice president now owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Shares of Automatic Data Processing, Inc. (ADP) opened at $112.08 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 1 year low of $91.60 and a 1 year high of $121.77. The firm has a market capitalization of $49,462.40, a PE ratio of 29.82, a PEG ratio of 2.86 and a beta of 0.87.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. research analysts expect that Automatic Data Processing, Inc. will post 3.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a $0.63 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.25%. Automatic Data Processing’s payout ratio is 58.02%.

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ADP has been the topic of a number of analyst reports. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $102.00 price objective on shares of Automatic Data Processing in a report on Monday, August 21st. Evercore ISI reaffirmed an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a report on Sunday, August 20th. Bank of America Corporation boosted their price target on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Finally, Royal Bank Of Canada cut their price target on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a report on Monday, November 6th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $112.37.

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 (NASDAQ:ADP)

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