Beacon Investment Advisory Services Inc. lowered its position in Automatic Data Processing (NASDAQ:ADP) by 9.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 99,205 shares of the business services provider’s stock after selling 10,284 shares during the quarter. Automatic Data Processing comprises 1.2% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 19th largest holding. Beacon Investment Advisory Services Inc.’s holdings in Automatic Data Processing were worth $11,626,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cpwm LLC lifted its position in Automatic Data Processing by 8.9% in the 4th quarter. Cpwm LLC now owns 7,555 shares of the business services provider’s stock worth $885,000 after buying an additional 619 shares during the last quarter. Linscomb & Williams Inc. lifted its position in Automatic Data Processing by 12.5% in the fourth quarter. Linscomb & Williams Inc. now owns 7,742 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 863 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in Automatic Data Processing by 44.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,513 shares of the business services provider’s stock valued at $880,000 after purchasing an additional 2,302 shares during the last quarter. Elefante Mark B lifted its position in Automatic Data Processing by 28.2% in the fourth quarter. Elefante Mark B now owns 6,361 shares of the business services provider’s stock valued at $745,000 after purchasing an additional 1,400 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $1,581,000. 78.55% of the stock is owned by institutional investors.
In other news, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was 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 directly owns 124,722 shares of the company’s stock, valued at approximately $14,728,420.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald Weinstein sold 3,242 shares of the firm’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 value of $405,250.00. Following the sale, the vice president now directly owns 28,366 shares of the company’s stock, valued at $3,545,750. 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 in the last 90 days. 0.25% of the stock is currently owned by company insiders.
Automatic Data Processing (NASDAQ:ADP) traded up $0.22 during trading hours on Tuesday, hitting $111.65. The company had a trading volume of 2,040,600 shares, compared to its average volume of 2,053,660. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Automatic Data Processing has a 12-month low of $95.50 and a 12-month high of $125.24. The stock has a market capitalization of $49,090.00, a PE ratio of 28.69, a P/E/G ratio of 2.43 and a beta of 0.86.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations 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 was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. research analysts predict that Automatic Data Processing will post 4.17 EPS for the current year.
The company also recently declared 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 annualized dividend 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 presently 65.28%.
ADP has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Barclays upped their price target on Automatic Data Processing from $121.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Tuesday, January 23rd. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Automatic Data Processing in a research note on Thursday, February 1st. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $118.43.
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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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