Steward Partners Investment Advisory LLC bought a new stake in Automatic Data Processing (NASDAQ:ADP) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 17,197 shares of the business services provider’s stock, valued at approximately $1,880,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cedar Capital LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth about $254,000. Intl Fcstone Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter worth about $1,699,000. AHL Partners LLP grew its stake in shares of Automatic Data Processing by 37.3% during the second quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock worth $11,243,000 after acquiring an additional 29,836 shares during the last quarter. AMP Capital Investors Ltd lifted its holdings in shares of Automatic Data Processing by 20.0% during the third quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock worth $33,636,000 after purchasing an additional 51,252 shares during the period. Finally, Heritage Investors Management Corp lifted its holdings in shares of Automatic Data Processing by 2.3% during the second quarter. Heritage Investors Management Corp now owns 123,641 shares of the business services provider’s stock worth $12,668,000 after purchasing an additional 2,795 shares during the period. Institutional investors own 78.67% of the company’s stock.
Shares of Automatic Data Processing (NASDAQ ADP) traded up $1.29 during mid-day trading on Friday, hitting $118.47. The stock had a trading volume of 1,644,451 shares, compared to its average volume of 2,030,000. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The firm has a market cap of $52,540.00, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85. Automatic Data Processing has a twelve month low of $94.11 and a twelve month high of $121.77.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the company posted $0.86 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, December 7th. Automatic Data Processing’s payout ratio is presently 63.96%.
ADP has been the subject of a number of research reports. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Morgan Stanley raised Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target for the company in a report on Tuesday, November 14th. Sanford C. Bernstein boosted their price target on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Finally, Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.02 to $135.00 in a report on Monday, December 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $115.21.
In other Automatic Data Processing news, VP Donald Weinstein sold 2,275 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $263,968.25. Following the completion of the sale, the vice president now directly owns 27,399 shares in the company, valued at approximately $3,179,105.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The disclosure for this sale can be found here. Insiders have sold 115,505 shares of company stock valued at $13,612,788 over the last quarter. 0.25% of the stock is owned by company insiders.
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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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