Baxter Bros Inc. Has $22.85 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Baxter Bros Inc. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the 3rd quarter, Holdings Channel reports. The fund owned 82,571 shares of the business services provider’s stock after selling 1,477 shares during the period. Automatic Data Processing comprises approximately 3.0% of Baxter Bros Inc.’s investment portfolio, making the stock its 8th largest position. Baxter Bros Inc.’s holdings in Automatic Data Processing were worth $22,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. TD Asset Management Inc increased its holdings in shares of Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after acquiring an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after purchasing an additional 264,466 shares in the last quarter. SG Americas Securities LLC raised its holdings in Automatic Data Processing by 195.1% during the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after buying an additional 34,118 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Automatic Data Processing by 1.7% in the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after buying an additional 4,253 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its stake in shares of Automatic Data Processing by 23.8% in the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock valued at $6,352,000 after buying an additional 5,114 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $288.18 on Friday. Automatic Data Processing, Inc. has a 52 week low of $211.52 and a 52 week high of $294.18. The firm’s 50-day simple moving average is $281.57 and its two-hundred day simple moving average is $260.01. The firm has a market cap of $117.53 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 3.21 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.98 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP David Kwon sold 846 shares of Automatic Data Processing 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 completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. 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 58,817 shares of company stock worth $15,999,208. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ADP. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. UBS Group increased their price objective on 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 upped their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $285.09.

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.