Ingalls & Snyder LLC Purchases New Holdings in Automatic Data Processing (ADP)

Ingalls & Snyder LLC purchased a new stake in Automatic Data Processing (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 30,303 shares of the business services provider’s stock, valued at approximately $3,551,000.

Other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares during the last quarter. Northwest Quadrant Wealth Management LLC boosted its holdings in Automatic Data Processing by 0.5% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock worth $458,000 after buying an additional 21 shares during the last quarter. Ironwood Investment Management LLC boosted its holdings in Automatic Data Processing by 0.7% during the second quarter. Ironwood Investment Management LLC now owns 3,463 shares of the business services provider’s stock worth $355,000 after buying an additional 25 shares during the last quarter. Savant Capital LLC boosted its holdings in Automatic Data Processing by 0.5% during the second quarter. Savant Capital LLC now owns 4,729 shares of the business services provider’s stock worth $484,000 after buying an additional 25 shares during the last quarter. Finally, PagnatoKarp Partners LLC boosted its holdings in Automatic Data Processing by 1.1% during the second quarter. PagnatoKarp Partners LLC now owns 2,643 shares of the business services provider’s stock worth $272,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 78.68% of the company’s stock.

In related news, VP Maria Black sold 1,786 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $119.72, for a total value of $213,819.92. Following the sale, the vice president now owns 11,858 shares of the company’s stock, valued at approximately $1,419,639.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael A. Bonarti sold 3,900 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $452,517.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,291 shares of company stock worth $13,826,607. 0.25% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on ADP shares. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, October 16th. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Goldman Sachs Group upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.02 to $135.00 in a report on Monday, December 11th. Finally, Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 target price on the stock in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $115.21.

Shares of Automatic Data Processing (ADP) opened at $121.44 on Friday. The company has a market capitalization of $53,617.90, a PE ratio of 30.90, a PEG ratio of 2.99 and a beta of 0.85. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $122.90.

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

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th 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 2.08%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 64.12%.

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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.

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

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