Automatic Data Processing (ADP) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its holdings in Automatic Data Processing (NYSE:ADP) by 37.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,475 shares of the business services provider’s stock after purchasing an additional 38,603 shares during the period. Lazard Asset Management LLC’s holdings in Automatic Data Processing were worth $14,587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ADP. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after acquiring an additional 1,430,863 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after acquiring an additional 485,320 shares in the last quarter. Polen Capital Management LLC increased its position in shares of Automatic Data Processing by 8.3% in the first quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock worth $639,992,000 after acquiring an additional 479,558 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Automatic Data Processing by 6.9% in the first quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock worth $488,748,000 after acquiring an additional 307,521 shares in the last quarter. Finally, Fundsmith LLP increased its position in shares of Automatic Data Processing by 3.4% in the first quarter. Fundsmith LLP now owns 4,011,368 shares of the business services provider’s stock worth $410,724,000 after acquiring an additional 133,125 shares in the last quarter.

Shares of Automatic Data Processing (ADP) opened at 106.78 on Friday. The firm has a market capitalization of $47.45 billion and a PE ratio of 27.74. The stock has a 50 day moving average of $108.51 and a 200-day moving average of $103.81. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.02). The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. Equities analysts anticipate that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.14%.

In related news, insider Michael A. Bonarti sold 2,932 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $299,005.36. Following the transaction, the insider now directly owns 46,256 shares in the company, valued at approximately $4,717,186.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the transaction, the chief executive officer now owns 146,494 shares in the company, valued at $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 45,522 shares of company stock worth $4,953,609 over the last quarter.

Several research analysts have recently weighed in on ADP shares. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC downgraded shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. William Blair downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Deutsche Bank AG reaffirmed a “hold” rating and set a $102.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. Finally, Evercore ISI downgraded shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective on the stock. in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $107.81.

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Automatic Data Processing Company Profile

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 (NYSE:ADP)

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