Barings LLC raised its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 206.6% in the 4th quarter, Holdings Channel reports. The fund owned 17,750 shares of the business services provider’s stock after acquiring an additional 11,960 shares during the quarter. Barings LLC’s holdings in Automatic Data Processing were worth $2,080,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cedar Capital LLC purchased a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $254,000. Intl Fcstone Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $1,699,000. AMP Capital Investors Ltd grew its holdings in shares of Automatic Data Processing by 20.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock worth $33,636,000 after acquiring an additional 51,252 shares during the period. AHL Partners LLP grew its holdings in shares of Automatic Data Processing by 37.3% in the 2nd quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock worth $11,243,000 after acquiring an additional 29,836 shares during the period. Finally, Fundsmith LLP grew its holdings in shares of Automatic Data Processing by 29.0% in the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after acquiring an additional 1,164,972 shares during the period. 78.55% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Carlos A. Rodriguez sold 69,899 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the sale, the chief executive officer now owns 161,085 shares in the company, valued at $18,088,234.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 124,722 shares in the company, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. Insiders have sold 219,666 shares of company stock worth $25,650,681 in the last 90 days. Insiders own 0.25% of the company’s stock.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at $116.18 on Monday. The company has a market capitalization of $51,500.00, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. 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 announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $3.24 billion for 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%. Automatic Data Processing’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 EPS. equities research analysts forecast that Automatic Data Processing will post 4.17 earnings per share for the current year.
The business also recently announced 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 2.17%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.28%.
A number of equities research analysts recently weighed in on ADP shares. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target on the stock in a report on Tuesday, November 14th. Sanford C. Bernstein upped their price target on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Goldman Sachs Group upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.02 to $135.00 in a report on Monday, December 11th. Finally, BMO Capital Markets lowered their price target on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $118.43.
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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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