Automatic Data Processing (ADP) Position Boosted by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its stake in Automatic Data Processing (NASDAQ:ADP) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,913 shares of the business services provider’s stock after purchasing an additional 1,012 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Automatic Data Processing were worth $2,724,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Caldera Capital LLC raised its holdings in Automatic Data Processing by 486.6% during the first quarter. Caldera Capital LLC now owns 50,297 shares of the business services provider’s stock worth $5,150,000 after purchasing an additional 41,722 shares during the last quarter. Fiduciary Trust Co. raised its holdings in Automatic Data Processing by 5.6% during the first quarter. Fiduciary Trust Co. now owns 162,739 shares of the business services provider’s stock worth $16,663,000 after purchasing an additional 8,593 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Automatic Data Processing by 1,427.7% during the first quarter. Westwood Holdings Group Inc. now owns 23,985 shares of the business services provider’s stock worth $2,456,000 after purchasing an additional 22,415 shares during the last quarter. Credit Suisse AG raised its holdings in Automatic Data Processing by 10.3% during the first quarter. Credit Suisse AG now owns 1,085,819 shares of the business services provider’s stock worth $111,176,000 after purchasing an additional 101,068 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in Automatic Data Processing by 0.6% during the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 78.67% of the company’s stock.

In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the transaction, the chief executive officer now owns 124,722 shares in the company, valued at $14,728,420.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward B. Flynn III sold 7,886 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $117.74, for a total value of $928,497.64. Following the completion of the transaction, the insider now owns 40,522 shares in the company, valued at approximately $4,771,060.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,505 shares of company stock worth $13,612,788. 0.25% of the stock is currently owned by insiders.

Several equities analysts have weighed in on ADP shares. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday. Sanford C. Bernstein raised their price target on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Barclays raised their price target on Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.02 to $135.00 in a research report on Monday, December 11th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $114.64.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $117.65 on Thursday. The stock has a market capitalization of $52,180.00, a PE ratio of 29.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. equities research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is currently 63.96%.

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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.

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

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