Flaharty Asset Management LLC acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,941 shares of the business services provider’s stock, valued at approximately $229,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. AIMZ Investment Advisors LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $203,000. Cornerstone Capital Management Holdings LLC. raised its stake in Automatic Data Processing by 9.3% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 83,382 shares of the business services provider’s stock worth $9,770,000 after purchasing an additional 7,097 shares during the period. OLD Mission Capital LLC purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $610,000. G&S Capital LLC purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $3,322,000. Finally, TIAA CREF Investment Management LLC raised its stake in Automatic Data Processing by 7.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,818,663 shares of the business services provider’s stock worth $213,129,000 after purchasing an additional 129,143 shares during the period. 78.57% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the stock. Barclays increased 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 cut their price target on shares of Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BidaskClub raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and an average price target of $118.43.
In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the completion of the sale, the chief executive officer now directly owns 124,722 shares of the company’s stock, valued at approximately $14,728,420.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the sale, the chief executive officer now directly owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The disclosure for this sale can be found here. Insiders sold 219,666 shares of company stock valued at $25,650,681 in the last three months. Company insiders own 0.25% of the company’s stock.
Shares of Automatic Data Processing (NASDAQ ADP) opened at $117.39 on Wednesday. Automatic Data Processing has a 52-week low of $95.50 and a 52-week high of $125.24. The stock has a market cap of $52,097.48, a price-to-earnings ratio of 30.49, a PEG ratio of 2.58 and a beta of 0.90. 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 (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. research analysts forecast that Automatic Data Processing will post 4.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s payout ratio is currently 65.45%.
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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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