Automatic Data Processing (ADP) Shares Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC increased its stake in Automatic Data Processing (NASDAQ:ADP) by 103.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,830 shares of the business services provider’s stock after buying an additional 1,442 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Automatic Data Processing were worth $332,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Automatic Data Processing by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after buying an additional 811,960 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Automatic Data Processing by 0.8% in the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after buying an additional 237,439 shares during the last quarter. Pershing Square Capital Management L.P. boosted its holdings in shares of Automatic Data Processing by 402.5% in the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after buying an additional 7,047,575 shares during the last quarter. Polen Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 1.5% in the 4th quarter. Polen Capital Management LLC now owns 6,915,960 shares of the business services provider’s stock worth $810,481,000 after buying an additional 102,031 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Automatic Data Processing by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock worth $696,182,000 after buying an additional 190,717 shares during the last quarter. 78.84% of the stock is currently owned by institutional investors.

In other news, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction dated 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 in the company, valued at $14,728,420.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stuart Sackman sold 238 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $121.65, for a total value of $28,952.70. Following the sale, the vice president now 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 quarter, insiders have sold 219,666 shares of company stock worth $25,650,681. Company insiders own 0.25% of the company’s stock.

ADP has been the topic of several recent research reports. Goldman Sachs Group raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.02 to $135.00 in a report on Monday, December 11th. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Wednesday, November 8th. Finally, Morgan Stanley raised shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective on the stock in a report on Tuesday, November 14th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $118.43.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $115.41 on Wednesday. Automatic Data Processing has a 52-week low of $95.50 and a 52-week high of $125.24. The firm has a market capitalization of $51,499.07, a PE ratio of 29.98, a PEG 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 (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. sell-side analysts predict that Automatic Data Processing will post 4.17 EPS for the current year.

The business also recently declared 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 2.18%. The ex-dividend date is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is presently 65.45%.

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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.

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

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