Heritage Investors Management Corp Sells 4,655 Shares of Automatic Data Processing (ADP)

Heritage Investors Management Corp lowered its stake in Automatic Data Processing (NASDAQ:ADP) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 118,986 shares of the business services provider’s stock after selling 4,655 shares during the quarter. Heritage Investors Management Corp’s holdings in Automatic Data Processing were worth $13,008,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Automatic Data Processing by 5,962.5% in the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after buying an additional 3,947,657 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $3,500,512,000 after buying an additional 1,430,863 shares during the period. Fundsmith LLP boosted its stake in shares of Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after buying an additional 1,164,972 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Automatic Data Processing by 671.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock valued at $127,574,000 after buying an additional 1,083,799 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

ADP has been the subject of several recent research reports. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Deutsche Bank restated a “hold” rating and set a $102.00 price objective on shares of Automatic Data Processing in a research report on Monday, August 21st. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. Evercore ISI reiterated an “in-line” rating and set a $115.00 price target on shares of Automatic Data Processing in a report on Sunday, August 20th. Finally, Bank of America upped their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $112.37.

Shares of Automatic Data Processing (ADP) opened at $116.02 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $51,409.32, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.87 and a beta of 0.85. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $121.77.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is 58.02%.

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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 (NASDAQ:ADP)

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