Valmark Advisers Inc. Takes $218,000 Position in Automatic Data Processing (ADP)

Valmark Advisers Inc. bought a new stake in shares of Automatic Data Processing (NASDAQ:ADP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,860 shares of the business services provider’s stock, valued at approximately $218,000.

A number of other institutional investors have also recently bought and sold shares of ADP. Pershing Square Capital Management L.P. boosted its stake in Automatic Data Processing by 402.5% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after purchasing an additional 7,047,575 shares during the period. Janus Henderson Group PLC boosted its stake in Automatic Data Processing by 5,962.5% during the 2nd quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after purchasing an additional 3,947,657 shares during the period. Canada Pension Plan Investment Board boosted its stake in Automatic Data Processing by 42,776.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock valued at $150,509,000 after purchasing an additional 1,373,560 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Automatic Data Processing by 42.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,993,394 shares of the business services provider’s stock valued at $467,986,000 after purchasing an additional 1,199,402 shares during the period. Finally, Fundsmith LLP boosted its stake in Automatic Data Processing by 29.0% during the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after purchasing an additional 1,164,972 shares during the period. 78.84% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Carlos A. Rodriguez sold 69,899 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.29, for a total value of $7,848,958.71. Following the sale, the chief executive officer now directly owns 161,085 shares in the company, valued at approximately $18,088,234.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 3,242 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total transaction of $405,250.00. Following the completion of the sale, the vice president now owns 28,366 shares in the company, valued at $3,545,750. The disclosure for this sale can be found here. Insiders sold a total of 219,666 shares of company stock worth $25,650,681 over the last quarter. Insiders own 0.25% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $115.41 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a fifty-two week low of $95.50 and a fifty-two week high of $125.24. The company has a market cap of $51,499.07, a P/E ratio of 29.98, a P/E/G ratio of 2.53 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. analysts predict that Automatic Data Processing will post 4.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.18%. Automatic Data Processing’s payout ratio is currently 65.45%.

A number of brokerages have recently 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, January 10th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Barclays upped their price target on shares of Automatic Data Processing from $121.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. BMO Capital Markets reduced their price target on shares of Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. 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. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $118.43.

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

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