Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lessened its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 55.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,100 shares of the business services provider’s stock after selling 72,300 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Automatic Data Processing were worth $6,692,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Intl Fcstone Inc. purchased a new position in Automatic Data Processing in the second quarter worth $1,699,000. Valmark Advisers Inc. purchased a new position in Automatic Data Processing in the fourth quarter worth $218,000. AMP Capital Investors Ltd raised its position in Automatic Data Processing by 20.0% in the third quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock worth $33,636,000 after acquiring an additional 51,252 shares in the last quarter. First Merchants Corp raised its position in Automatic Data Processing by 3.4% in the third quarter. First Merchants Corp now owns 45,456 shares of the business services provider’s stock worth $4,970,000 after acquiring an additional 1,499 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC raised its position in Automatic Data Processing by 4.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 455,625 shares of the business services provider’s stock worth $49,809,000 after acquiring an additional 19,421 shares in the last quarter. Institutional investors and hedge funds own 78.52% of the company’s stock.
Shares of ADP stock opened at $109.20 on Friday. 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 firm has a market capitalization of $50,151.53, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.90. Automatic Data Processing has a twelve month low of $95.50 and a twelve 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. Automatic Data Processing’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. equities research analysts forecast that Automatic Data Processing will post 4.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.45%.
Several research analysts have issued reports on ADP shares. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research report on Friday, January 5th. BidaskClub upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Citigroup reiterated a “neutral” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Automatic Data Processing in a research report on Friday, January 12th. Royal Bank of Canada reiterated a “neutral” rating on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Goldman Sachs upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.02 to $135.00 in a research report on Monday, December 11th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $118.43.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 69,899 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was 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 owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 124,722 shares in the company, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. Insiders sold 219,666 shares of company stock worth $25,650,681 in the last three months. 0.25% of the stock is owned by corporate insiders.
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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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