Citizens Financial Group Inc RI Decreases Position in Automatic Data Processing (ADP)

Citizens Financial Group Inc RI decreased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 32,518 shares of the business services provider’s stock after selling 500 shares during the period. Citizens Financial Group Inc RI’s holdings in Automatic Data Processing were worth $3,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwest Quadrant Wealth Management LLC raised its position in Automatic Data Processing by 0.5% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock valued at $458,000 after purchasing an additional 21 shares in the last quarter. PagnatoKarp Partners LLC raised its position in Automatic Data Processing by 1.1% in the 2nd quarter. PagnatoKarp Partners LLC now owns 2,643 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 29 shares in the last quarter. South Texas Money Management Ltd. raised its position in Automatic Data Processing by 1.3% in the 2nd quarter. South Texas Money Management Ltd. now owns 2,335 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 29 shares in the last quarter. Good Life Advisors LLC raised its position in Automatic Data Processing by 1.7% in the 2nd quarter. Good Life Advisors LLC now owns 2,189 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 36 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in Automatic Data Processing by 0.4% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 14,426 shares of the business services provider’s stock valued at $1,663,000 after purchasing an additional 52 shares in the last quarter. 78.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on ADP. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research report on Monday, February 5th. Royal Bank of Canada reaffirmed a “neutral” rating on shares of Automatic Data Processing in a research report on Thursday, February 1st. BMO Capital Markets reduced their price target on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a research report on Thursday, February 1st. Barclays increased their price target on Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus increased their price target on Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a research report on Thursday, February 1st. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $118.43.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $116.18 on Tuesday. 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 12-month low of $95.50 and a 12-month high of $125.24. The firm has a market capitalization of $51,499.07, a PE ratio of 30.10, a PEG ratio of 2.53 and a beta of 0.86.

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

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders 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 2.17%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.45%.

In related news, VP Stuart Sackman sold 238 shares of the firm’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 transaction of $28,952.70. Following the transaction, the vice president now owns 18,676 shares in the company, valued at approximately $2,271,935.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald Weinstein sold 2,275 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $263,968.25. Following the transaction, the vice president now owns 27,399 shares in the company, valued at approximately $3,179,105.97. The disclosure for this sale can be found here. Insiders have sold a total of 219,666 shares of company stock worth $25,650,681 in the last three months. Corporate insiders own 0.25% of the company’s stock.

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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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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