Pitcairn Co. raised its position in Automatic Data Processing (NASDAQ:ADP) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,809 shares of the business services provider’s stock after acquiring an additional 464 shares during the quarter. Pitcairn Co.’s holdings in Automatic Data Processing were worth $329,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ADP. Edmond DE Rothschild Holding S.A. grew its position in shares of Automatic Data Processing by 75.3% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,939 shares of the business services provider’s stock worth $199,000 after buying an additional 833 shares in the last quarter. Amalgamated Bank lifted its stake in Automatic Data Processing by 53.2% during the second quarter. Amalgamated Bank now owns 52,819 shares of the business services provider’s stock worth $5,412,000 after purchasing an additional 18,342 shares during the last quarter. Laurion Capital Management LP lifted its stake in Automatic Data Processing by 214.1% during the second quarter. Laurion Capital Management LP now owns 56,226 shares of the business services provider’s stock worth $5,761,000 after purchasing an additional 38,326 shares during the last quarter. ProShare Advisors LLC lifted its stake in Automatic Data Processing by 7.8% during the second quarter. ProShare Advisors LLC now owns 729,816 shares of the business services provider’s stock worth $74,777,000 after purchasing an additional 52,501 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Automatic Data Processing by 2.5% during the second quarter. Thrivent Financial For Lutherans now owns 17,375 shares of the business services provider’s stock worth $1,782,000 after purchasing an additional 430 shares during the last quarter. 78.57% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on ADP shares. 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, January 12th. BMO Capital Markets reduced their price objective on 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. BidaskClub cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price objective on Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. 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.
In related news, VP Stuart Sackman sold 238 shares of Automatic Data Processing 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 sale, the vice president now directly owns 18,676 shares in the company, valued at $2,271,935.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction dated 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 sale, the chief executive officer now owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,666 shares of company stock worth $25,650,681. Company insiders own 0.25% of the company’s stock.
Automatic Data Processing (NASDAQ ADP) traded down $1.29 during mid-day trading on Wednesday, reaching $116.10. The company’s stock had a trading volume of 1,885,041 shares, compared to its average volume of 1,960,000. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $51,460.00, a PE ratio of 30.88, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90. Automatic Data Processing has a 12 month low of $95.50 and a 12 month high of $125.24.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. analysts predict that Automatic Data Processing will post 4.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 67.02%.
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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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