Stephens Inc. AR grew its stake in Automatic Data Processing (NASDAQ:ADP) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,370 shares of the business services provider’s stock after purchasing an additional 1,582 shares during the quarter. Stephens Inc. AR’s holdings in Automatic Data Processing were worth $7,584,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Acrospire Investment Management LLC bought a new position in shares of Automatic Data Processing in the 2nd quarter worth about $102,000. Proficio Capital Partners LLC increased its stake in shares of Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares in the last quarter. Armbruster Capital Management Inc. increased its stake in shares of Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Automatic Data Processing in the 2nd quarter worth about $136,000. Institutional investors and hedge funds own 78.67% of the company’s stock.
Shares of Automatic Data Processing (NASDAQ:ADP) traded up $1.29 during midday trading on Friday, hitting $118.47. 1,644,300 shares of the stock were exchanged, compared to its average volume of 2,030,000. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $52,540.00, a P/E ratio of 30.07, a PEG ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.86 EPS. equities research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 8th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.96%.
A number of research firms have weighed in on ADP. Zacks Investment Research lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup restated a “neutral” rating and set a $118.00 price objective (up from $110.00) on shares of Automatic Data Processing in a research note on Friday. Sanford C. Bernstein raised their price objective on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Barclays raised their price objective on shares of Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Finally, BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and an average target price of $115.21.
In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $118.09, for a total value of $11,307,826.04. Following the transaction, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael A. Bonarti sold 3,900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $452,517.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,505 shares of company stock worth $13,612,788. Insiders own 0.25% of the company’s stock.
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Automatic Data Processing 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.
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