Moreno Evelyn V reduced its position in shares of Automatic Data Processing (NASDAQ:ADP) by 41.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,463 shares of the business services provider’s stock after selling 7,400 shares during the period. Moreno Evelyn V’s holdings in Automatic Data Processing were worth $1,226,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Retirement Income Solutions Inc bought a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $961,000. Regal Investment Advisors LLC raised its stake in shares of Automatic Data Processing by 11.9% during the fourth quarter. Regal Investment Advisors LLC now owns 14,138 shares of the business services provider’s stock worth $1,657,000 after buying an additional 1,506 shares during the last quarter. ING Groep NV grew its holdings in Automatic Data Processing by 1.4% during the fourth quarter. ING Groep NV now owns 149,953 shares of the business services provider’s stock valued at $17,573,000 after purchasing an additional 2,046 shares during the period. Cypress Wealth Services LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $1,209,000. Finally, Allegis Investment Advisors LLC grew its holdings in Automatic Data Processing by 23.8% during the fourth quarter. Allegis Investment Advisors LLC now owns 24,263 shares of the business services provider’s stock valued at $2,843,000 after purchasing an additional 4,672 shares during the period. 78.55% of the stock is owned by hedge funds and other institutional investors.
Automatic Data Processing (NASDAQ:ADP) traded up $0.67 during midday trading on Friday, reaching $116.18. 1,392,852 shares of the company’s stock traded hands, compared to its average volume of 2,204,226. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Automatic Data Processing has a 1 year low of $95.50 and a 1 year high of $125.24. The company has a market capitalization of $51,499.11, a price-to-earnings ratio of 30.18, a P/E/G ratio of 2.53 and a beta of 0.86.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm posted $0.87 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. sell-side analysts expect that Automatic Data Processing will post 4.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.45%.
In other news, CEO Carlos A. Rodriguez sold 95,756 shares of the stock in a transaction dated 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 directly owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stuart Sackman sold 238 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $121.65, for a total transaction of $28,952.70. Following the completion of the transaction, the vice president now owns 18,676 shares in the company, valued at $2,271,935.40. The disclosure for this sale can be found here. Insiders sold 219,666 shares of company stock worth $25,650,681 over the last three months. Insiders own 0.25% of the company’s stock.
A number of research analysts recently issued reports on ADP shares. Bank of America upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. BidaskClub upgraded shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 21st. Morgan Stanley upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target for the company in a report on Tuesday, November 14th. Sanford C. Bernstein upped their price target on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Finally, Goldman Sachs Group upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their price target for the company from $116.02 to $135.00 in a report on Monday, December 11th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $118.43.
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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.
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