TIAA CREF Investment Management LLC lifted its holdings in Automatic Data Processing (NASDAQ:ADP) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,818,663 shares of the business services provider’s stock after purchasing an additional 129,143 shares during the period. TIAA CREF Investment Management LLC owned 0.41% of Automatic Data Processing worth $213,129,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors bought a new position in Automatic Data Processing during the fourth quarter valued at about $180,000. HBK Investments L P increased its stake in Automatic Data Processing by 360.6% during the fourth quarter. HBK Investments L P now owns 198,986 shares of the business services provider’s stock valued at $23,319,000 after acquiring an additional 155,786 shares during the period. Two Sigma Advisers LP bought a new position in Automatic Data Processing during the fourth quarter valued at about $53,372,000. Premia Global Advisors LLC bought a new position in Automatic Data Processing during the fourth quarter valued at about $648,000. Finally, Ellington Management Group LLC bought a new position in Automatic Data Processing during the fourth quarter valued at about $773,000. Institutional investors and hedge funds own 78.53% of the company’s stock.
In other Automatic Data Processing news, insider Edward B. Flynn III sold 7,886 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $117.74, for a total transaction of $928,497.64. Following the transaction, the insider now owns 40,522 shares of the company’s stock, valued at approximately $4,771,060.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total value of $7,848,958.71. Following the transaction, the chief executive officer now directly owns 161,085 shares in the company, valued at approximately $18,088,234.65. The disclosure for this sale can be found here. Insiders sold a total of 112,047 shares of company stock worth $12,966,391 over the last three months. 0.25% of the stock is owned by company insiders.
Shares of ADP opened at $113.70 on Friday. The company has a market capitalization of $51,738.44, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88. 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 announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.89 by $0.10. The business had revenue of $3.24 billion for 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%. Automatic Data Processing’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. sell-side analysts expect that Automatic Data Processing will post 4.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Friday, March 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Thursday, March 8th. Automatic Data Processing’s payout ratio is currently 68.11%.
A number of equities research analysts have weighed in on ADP shares. Stifel Nicolaus decreased their price objective on Automatic Data Processing from $133.00 to $126.00 and set a “hold” rating on the stock in a report on Wednesday. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Thursday. BMO Capital Markets decreased their price objective on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Barclays lifted their price objective on Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Finally, BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $120.29.
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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.
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