Automatic Data Processing (ADP) Shares Sold by Clean Yield Group

Clean Yield Group decreased its stake in Automatic Data Processing (NASDAQ:ADP) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,129 shares of the business services provider’s stock after selling 3,376 shares during the quarter. Automatic Data Processing makes up about 1.7% of Clean Yield Group’s holdings, making the stock its 17th biggest position. Clean Yield Group’s holdings in Automatic Data Processing were worth $3,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Automatic Data Processing by 213.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock valued at $1,301,682,000 after purchasing an additional 5,880,242 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at $156,978,000. Deutsche Bank AG raised its holdings in shares of Automatic Data Processing by 36.3% during the 3rd quarter. Deutsche Bank AG now owns 2,546,248 shares of the business services provider’s stock valued at $383,612,000 after purchasing an additional 678,657 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Automatic Data Processing by 9,857.0% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 574,919 shares of the business services provider’s stock valued at $86,617,000 after purchasing an additional 569,145 shares in the last quarter. Finally, Vanguard Group Inc raised its holdings in shares of Automatic Data Processing by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock valued at $5,566,295,000 after purchasing an additional 425,007 shares in the last quarter. Institutional investors own 77.85% of the company’s stock.

Shares of ADP opened at $134.42 on Thursday. The firm has a market capitalization of $58.29 billion, a P/E ratio of 30.90, a PEG ratio of 2.02 and a beta of 0.95. Automatic Data Processing has a one year low of $107.61 and a one year high of $153.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. On average, research analysts expect that Automatic Data Processing will post 5.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be given a $0.79 dividend. The ex-dividend date is Thursday, March 7th. This represents a $3.16 annualized dividend and a yield of 2.35%. Automatic Data Processing’s dividend payout ratio is 72.64%.

ADP has been the topic of a number of recent research reports. Zacks Investment Research restated a “hold” rating on shares of Automatic Data Processing in a report on Monday, November 12th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing to $167.00 and gave the company a “hold” rating in a report on Thursday, November 1st. Citigroup raised their price target on shares of Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, November 1st. Moffett Nathanson initiated coverage on shares of Automatic Data Processing in a report on Thursday, October 4th. They set a “buy” rating and a $180.00 price target on the stock. Finally, BMO Capital Markets cut their price target on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $151.87.

In other Automatic Data Processing news, Director John P. Jones III sold 5,688 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $129.45, for a total value of $736,311.60. Following the sale, the director now directly owns 57,430 shares in the company, valued at approximately $7,434,313.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 101,620 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $147.46, for a total transaction of $14,984,885.20. Following the completion of the sale, the chief executive officer now owns 199,405 shares in the company, valued at $29,404,261.30. The disclosure for this sale can be found here. Insiders sold a total of 201,837 shares of company stock worth $29,024,577 over the last 90 days. Company insiders own 0.33% of the company’s stock.

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About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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