Bredin Investment LLC bought a new position in shares of Automatic Data Processing (NASDAQ:ADP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,609 shares of the business services provider’s stock, valued at approximately $999,000. Automatic Data Processing comprises approximately 0.8% of Bredin Investment LLC’s investment portfolio, making the stock its 27th largest holding.
Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its position in shares of Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Automatic Data Processing in the 2nd quarter worth about $102,000. Wealthcare Advisory Partners LLC bought a new position in shares of Automatic Data Processing in the 3rd quarter worth about $114,000. Family Capital Trust Co bought a new position in shares of Automatic Data Processing in the 3rd quarter worth about $137,000. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Automatic Data Processing in the 2nd quarter worth about $136,000. 78.55% of the stock is owned by institutional investors and hedge funds.
In other news, insider Michael A. Bonarti sold 28,930 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $122.12, for a total value of $3,532,931.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $405,250.00. Following the completion of the transaction, the vice president now owns 28,366 shares in the company, valued at approximately $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 quarter. Company insiders own 0.25% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th. Sanford C. Bernstein lifted their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.02 to $135.00 in a research report on Monday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $118.43.
Automatic Data Processing (NASDAQ:ADP) traded up $0.89 during mid-day trading on Wednesday, reaching $112.71. The company’s stock had a trading volume of 1,620,000 shares, compared to its average volume of 2,100,000. The firm has a market cap of $49,960.00, a P/E ratio of 29.20, a P/E/G ratio of 2.43 and a beta of 0.86. 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 fifty-two week low of $95.50 and a fifty-two week high of $125.24.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $3.24 billion during 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 company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. equities research analysts expect that Automatic Data Processing will post 4.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders 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 yield of 2.24%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.28%.
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Automatic Data Processing 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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