Jensen Investment Management Inc. lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,570 shares of the business services provider’s stock after selling 1,978 shares during the quarter. Automatic Data Processing comprises about 0.2% of Jensen Investment Management Inc.’s holdings, making the stock its 29th largest position. Jensen Investment Management Inc.’s holdings in Automatic Data Processing were worth $14,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Beach Investment Management LLC. purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $2,271,000. AT Bancorp purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $214,000. Advisor Partners LLC boosted its holdings in Automatic Data Processing by 30.9% in the 2nd quarter. Advisor Partners LLC now owns 11,101 shares of the business services provider’s stock worth $1,137,000 after acquiring an additional 2,618 shares during the period. Baxter Bros Inc. boosted its holdings in Automatic Data Processing by 4.1% in the 2nd quarter. Baxter Bros Inc. now owns 47,914 shares of the business services provider’s stock worth $4,909,000 after acquiring an additional 1,865 shares during the period. Finally, Armbruster Capital Management Inc. boosted its holdings in Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares during the period. 78.55% of the stock is owned by institutional investors.
In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the company’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 transaction of $11,307,826.04. Following 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 SEC, which is accessible through this hyperlink. Also, VP Stuart Sackman sold 238 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 18,676 shares in the company, valued at $2,271,935.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,767 shares of company stock worth $17,801,722. Corporate insiders own 0.25% of the company’s stock.
Automatic Data Processing (NASDAQ ADP) opened at $111.65 on Tuesday. The company has a market capitalization of $49,393.54, a P/E ratio of 29.00, a PEG ratio of 2.43 and a beta of 0.86. 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 one year low of $95.50 and a one year high of $125.24.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The company 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 business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. sell-side analysts anticipate that Automatic Data Processing will post 4.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend 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 equities analysts have weighed in on the company. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a report on Monday, February 5th. Royal Bank of Canada restated a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. BMO Capital Markets decreased their price target on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating for the company in a report 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 report on Thursday, February 1st. 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 report on Thursday, February 1st. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price 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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