Koshinski Asset Management Inc. purchased a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,429 shares of the business services provider’s stock, valued at approximately $285,000.
Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in Automatic Data Processing during the second quarter valued at $102,000. Proficio Capital Partners LLC raised its holdings in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in Automatic Data Processing during the third quarter valued at about $114,000. Grove Bank & Trust raised its holdings in Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after buying an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. raised its holdings in Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after buying an additional 32 shares in the last quarter. Institutional investors own 78.55% of the company’s stock.
In other news, VP Donald Weinstein sold 2,275 shares of the firm’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 transaction, the vice president now directly owns 27,399 shares of the company’s stock, valued at $3,179,105.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Jones III sold 5,688 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $659,978.64. Following the transaction, the director now directly owns 53,956 shares in the company, valued at $6,260,514.68. The disclosure for this sale can be found here. Insiders sold a total of 149,767 shares of company stock valued at $17,801,722 over the last quarter. 0.25% of the stock is currently owned by company insiders.
Automatic Data Processing (NASDAQ ADP) traded up $0.22 on Monday, hitting $111.65. 2,040,000 shares of the company were exchanged, compared to its average volume of 2,040,000. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. Automatic Data Processing has a 1-year low of $95.50 and a 1-year high of $125.24. The company has a market cap of $49,490.00, a PE ratio of 28.92, a P/E/G ratio of 2.43 and a beta of 0.86.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. research analysts predict that Automatic Data Processing will post 4.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio is 65.28%.
A number of research firms have recently commented on ADP. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BMO Capital Markets lowered their price target on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Barclays lifted their price objective on Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Finally, BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $118.43.
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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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