Automatic Data Processing (ADP) Stake Lessened by First Long Island Investors LLC

First Long Island Investors LLC decreased its holdings in Automatic Data Processing (NASDAQ:ADP) by 8.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 84,398 shares of the business services provider’s stock after selling 7,372 shares during the period. First Long Island Investors LLC’s holdings in Automatic Data Processing were worth $9,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after acquiring an additional 811,960 shares during the last quarter. BlackRock Inc. grew its position in Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after acquiring an additional 237,439 shares during the last quarter. Pershing Square Capital Management L.P. grew its position in shares of Automatic Data Processing by 402.5% in the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after buying an additional 7,047,575 shares during the last quarter. Polen Capital Management LLC grew its position in shares of Automatic Data Processing by 2.3% in the 3rd quarter. Polen Capital Management LLC now owns 6,813,929 shares of the business services provider’s stock valued at $744,899,000 after buying an additional 152,027 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Automatic Data Processing by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after buying an additional 190,717 shares during the last quarter. Institutional investors own 78.55% of the company’s stock.

Automatic Data Processing (NASDAQ ADP) opened at $111.65 on Tuesday. Automatic Data Processing has a 52 week low of $95.50 and a 52 week high of $125.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $49,393.54, a P/E ratio of 29.00, a P/E/G ratio of 2.43 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS. analysts anticipate that Automatic Data Processing will post 4.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders 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 yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 65.45%.

A number of research analysts have recently issued reports on ADP shares. Citigroup reissued a “neutral” rating and issued a $118.00 price objective (up from $110.00) on shares of Automatic Data Processing in a research note on Friday, January 12th. BMO Capital Markets dropped their price objective 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. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Finally, Stifel Nicolaus upped their price target 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. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $118.43.

In other Automatic Data Processing news, VP Donald Weinstein sold 3,242 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total transaction of $405,250.00. Following the completion of the sale, the vice president now directly owns 28,366 shares of the company’s stock, valued at approximately $3,545,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stuart Sackman sold 238 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $121.65, for a total value of $28,952.70. Following the sale, the vice president now directly owns 18,676 shares of the company’s stock, valued at $2,271,935.40. The disclosure for this sale can be found here. Insiders have sold a total of 149,767 shares of company stock valued at $17,801,722 over the last three months. Corporate insiders own 0.25% of the company’s stock.

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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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