Bartlett & Co. LLC cut its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,618 shares of the business services provider’s stock after selling 4,600 shares during the quarter. Bartlett & Co. LLC’s holdings in Automatic Data Processing were worth $16,948,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Acrospire Investment Management LLC bought a new position in shares of Automatic Data Processing in the second quarter worth approximately $102,000. Proficio Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Automatic Data Processing in the third quarter worth approximately $114,000. Grove Bank & Trust boosted its holdings in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. boosted its holdings in Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 32 shares in the last quarter. 78.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Automatic Data Processing (NASDAQ ADP) traded down $1.15 during mid-day trading on Friday, hitting $120.90. 1,482,700 shares of the stock were exchanged, compared to its average volume of 1,848,158. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $122.90. The company has a market cap of $53,840.00, a PE ratio of 30.69, a PEG ratio of 3.02 and a beta of 0.85. 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 (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. equities research analysts expect that Automatic Data Processing will post 3.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders 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 dividend yield of 2.08%. The ex-dividend date is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.96%.
ADP has been the topic of several recent analyst reports. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 price target on shares of Automatic Data Processing in a report on Wednesday, October 4th. Bank of America lifted 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, Barclays lifted their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and an average price target of $115.21.
In other news, VP Maria Black sold 1,786 shares of Automatic Data Processing stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $119.72, for a total value of $213,819.92. Following the completion of the transaction, the vice president now owns 11,858 shares of the company’s stock, valued at approximately $1,419,639.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Donald Weinstein sold 2,275 shares of Automatic Data Processing stock in a transaction dated 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 transaction, the vice president now directly owns 27,399 shares of the company’s stock, valued at approximately $3,179,105.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,291 shares of company stock worth $13,826,607. Company insiders own 0.25% of the company’s stock.
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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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