Peninsula Asset Management Inc. decreased its stake in Automatic Data Processing (NASDAQ:ADP) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,957 shares of the business services provider’s stock after selling 845 shares during the period. Automatic Data Processing accounts for about 2.8% of Peninsula Asset Management Inc.’s holdings, making the stock its 9th biggest position. Peninsula Asset Management Inc.’s holdings in Automatic Data Processing were worth $3,745,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of ADP. Legacy Advisors LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $103,000. Truewealth LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at $104,000. Wealthcare Advisory Partners LLC bought a new stake in Automatic Data Processing during the 3rd quarter valued at $114,000. Fuller & Thaler Asset Management Inc. bought a new position in Automatic Data Processing in the 4th quarter worth $117,000. Finally, Calton & Associates Inc. bought a new position in Automatic Data Processing in the 4th quarter worth $118,000. 78.53% of the stock is currently owned by institutional investors.
In other Automatic Data Processing news, VP Stuart Sackman sold 238 shares of the business’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 completion of the transaction, the vice president now directly owns 18,676 shares in the company, valued at $2,271,935.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward B. Flynn III sold 7,886 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were 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 in the company, valued at approximately $4,771,060.28. The disclosure for this sale can be found here. Insiders have sold 112,047 shares of company stock valued at $12,966,391 over the last three months. Insiders own 0.25% of the company’s stock.
Shares of ADP stock traded down $3.81 on Friday, reaching $113.70. The company’s stock had a trading volume of 2,295,297 shares, compared to its average volume of 3,193,471. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $52,088.62, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88. Automatic Data Processing has a 1 year low of $95.50 and a 1 year high of $125.24.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. Automatic Data Processing’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. equities analysts predict that Automatic Data Processing will post 4.14 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Friday, March 9th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 68.11%.
Several research analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Automatic Data Processing from $133.00 to $126.00 and set a “hold” rating for the company in a report on Wednesday. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Thursday. BMO Capital Markets cut their price objective on shares of 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 raised their price target on shares of 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 shares of 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 assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $120.29.
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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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