Clark Capital Management Group Inc. acquired a new position in Automatic Data Processing (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,561 shares of the business services provider’s stock, valued at approximately $535,000.
Other large investors have also modified their holdings of the company. LPL Financial LLC increased its holdings in Automatic Data Processing by 12.4% in the 4th quarter. LPL Financial LLC now owns 51,240 shares of the business services provider’s stock worth $6,005,000 after acquiring an additional 5,654 shares in the last quarter. Elkhorn Investments LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $1,373,000. Covington Capital Management increased its holdings in Automatic Data Processing by 1.9% in the 4th quarter. Covington Capital Management now owns 63,123 shares of the business services provider’s stock worth $7,397,000 after acquiring an additional 1,150 shares in the last quarter. Millennium Management LLC increased its holdings in Automatic Data Processing by 0.8% in the 4th quarter. Millennium Management LLC now owns 617,285 shares of the business services provider’s stock worth $72,340,000 after acquiring an additional 4,653 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its holdings in Automatic Data Processing by 7.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 21,728 shares of the business services provider’s stock worth $2,546,000 after acquiring an additional 1,596 shares in the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at $117.16 on Friday. The company has a current ratio of 1.06, a quick 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 stock has a market cap of $51,933.51, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the firm posted $0.87 EPS. The company’s revenue was up 8.3% on a year-over-year basis. equities research analysts anticipate that Automatic Data Processing will post 4.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.45%.
Several equities research analysts recently issued reports on ADP shares. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Goldman Sachs raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their target price for the stock from $116.02 to $135.00 in a report on Monday, December 11th. Royal Bank of Canada reissued a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a report on Monday, February 5th. Finally, Citigroup reissued a “neutral” rating and issued a $118.00 target price (up from $110.00) on shares of Automatic Data Processing in a report on Friday, January 12th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $118.43.
In other news, CEO Carlos A. Rodriguez sold 69,899 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stuart Sackman sold 238 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $121.65, for a total value of $28,952.70. Following the transaction, the vice president now owns 18,676 shares of the company’s stock, valued at $2,271,935.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,666 shares of company stock valued at $25,650,681. Insiders own 0.25% of the company’s stock.
About Automatic Data Processing
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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