K.J. Harrison & Partners Inc Has $1.93 Million Holdings in Automatic Data Processing (NASDAQ:ADP)

K.J. Harrison & Partners Inc grew its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 137.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,097 shares of the business services provider’s stock after buying an additional 7,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Automatic Data Processing were worth $1,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Automatic Data Processing by 1.2% during the third quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after acquiring an additional 425,007 shares in the last quarter. BlackRock Inc. increased its position in shares of Automatic Data Processing by 5.4% during the fourth quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock worth $4,064,239,000 after acquiring an additional 1,587,214 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Automatic Data Processing by 18,918.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock worth $179,000 after acquiring an additional 23,339,116 shares in the last quarter. Lunia Capital LP increased its position in shares of Automatic Data Processing by 14,251.9% during the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after acquiring an additional 18,239,702 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Automatic Data Processing by 213.1% during the third quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock worth $1,301,682,000 after acquiring an additional 5,880,242 shares in the last quarter. 81.20% of the stock is currently owned by hedge funds and other institutional investors.

In other Automatic Data Processing news, VP Donald Weinstein sold 1,706 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total value of $281,507.06. Following the sale, the vice president now owns 26,220 shares of the company’s stock, valued at approximately $4,326,562.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Stuart Sackman sold 1,478 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the sale, the vice president now directly owns 24,122 shares in the company, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,456 shares of company stock worth $5,010,669. 0.33% of the stock is owned by insiders.

Shares of Automatic Data Processing stock traded up $0.37 on Wednesday, hitting $163.37. 1,070,886 shares of the company traded hands, compared to its average volume of 1,971,118. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $69.94 billion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 2.29 and a beta of 0.95. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $165.50.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.08. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company posted $1.57 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post 5.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.

A number of brokerages have issued reports on ADP. Sanford C. Bernstein downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Barclays increased their target price on shares of Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, Citigroup increased their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $159.00.

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Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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