Teachers Advisors LLC reduced its position in Automatic Data Processing (NASDAQ:ADP) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,917 shares of the business services provider’s stock after selling 10,700 shares during the period. Teachers Advisors LLC owned about 0.17% of Automatic Data Processing worth $86,008,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new position in Automatic Data Processing during the fourth quarter worth $103,000. Truewealth LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $104,000. Calton & Associates Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $118,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $117,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of Automatic Data Processing during the third quarter worth $114,000. 78.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Automatic Data Processing stock opened at $113.70 on Friday. 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 twelve month low of $95.50 and a twelve month high of $125.24. The firm has a market capitalization of $52,088.62, a P/E ratio of 30.73, a PEG ratio of 2.58 and a beta of 0.88.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating 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 company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company posted $0.87 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. equities research analysts predict that Automatic Data Processing will post 4.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Friday, March 9th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 68.11%.
Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a report on Thursday, February 1st. Barclays raised their price objective on Automatic Data Processing from $121.00 to $128.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Tuesday, January 23rd. BidaskClub upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada restated a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $120.29.
In related news, CEO Carlos A. Rodriguez sold 69,899 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Maria Black sold 1,786 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $119.72, for a total value of $213,819.92. Following the completion of the sale, the vice president now directly owns 11,858 shares of the company’s stock, valued at $1,419,639.76. The disclosure for this sale can be found here. Insiders sold 112,047 shares of company stock worth $12,966,391 over the last three months. 0.25% of the stock is currently owned by corporate insiders.
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About Automatic Data Processing
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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