Motco Lowers Position in Automatic Data Processing (ADP)

Motco reduced its position in Automatic Data Processing (NASDAQ:ADP) by 87.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,181 shares of the business services provider’s stock after selling 43,499 shares during the period. Motco’s holdings in Automatic Data Processing were worth $676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Good Life Advisors LLC boosted its holdings in Automatic Data Processing by 2.5% in the 1st quarter. Good Life Advisors LLC now owns 2,153 shares of the business services provider’s stock worth $221,000 after buying an additional 52 shares during the period. PNC Financial Services Group Inc. lifted its stake in Automatic Data Processing by 4.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,813,635 shares of the business services provider’s stock worth $185,698,000 after purchasing an additional 74,913 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Automatic Data Processing in the 1st quarter worth $778,000. Legal & General Group Plc raised its position in shares of Automatic Data Processing by 4.1% during the 1st quarter. Legal & General Group Plc now owns 2,450,788 shares of the business services provider’s stock valued at $250,923,000 after buying an additional 95,666 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Automatic Data Processing by 6.7% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 2,811 shares of the business services provider’s stock valued at $288,000 after buying an additional 177 shares in the last quarter. Institutional investors own 78.67% of the company’s stock.

In other Automatic Data Processing news, insider Edward B. Flynn III sold 7,886 shares of Automatic Data Processing stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $117.74, for a total transaction of $928,497.64. Following the transaction, the insider now directly owns 40,522 shares of the company’s stock, valued at $4,771,060.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald Weinstein sold 2,275 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total transaction of $263,968.25. Following the completion of the sale, the vice president now directly owns 27,399 shares in the company, valued at $3,179,105.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,505 shares of company stock worth $13,612,788. Insiders own 0.25% of the company’s stock.

Automatic Data Processing (NASDAQ:ADP) traded down $0.47 during midday trading on Thursday, hitting $117.18. 1,160,000 shares of the company’s stock were exchanged, compared to its average volume of 2,060,000. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a fifty-two week low of $94.11 and a fifty-two week high of $121.77. The stock has a market capitalization of $51,970.00, a PE ratio of 29.74, a P/E/G ratio of 2.93 and a beta of 0.85.

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

The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 8th were given a $0.63 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.96%.

ADP has been the topic of several recent research reports. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. BMO Capital Markets decreased their target price on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America upped their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Finally, Morgan Stanley upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 target price on the stock in a research note on Tuesday, November 14th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and an average target price of $114.64.

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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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