Acadian Asset Management LLC Sells 457 Shares of Automatic Data Processing (NASDAQ:ADP)

Acadian Asset Management LLC cut its position in shares of Automatic Data Processing (NASDAQ:ADP) by 17.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,168 shares of the business services provider’s stock after selling 457 shares during the period. Acadian Asset Management LLC’s holdings in Automatic Data Processing were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc raised its stake in Automatic Data Processing by 1.2% during the third quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after purchasing an additional 425,007 shares during the period. BlackRock Inc. raised its stake in Automatic Data Processing by 5.4% during the fourth quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock worth $4,064,239,000 after purchasing an additional 1,587,214 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Automatic Data Processing by 18,918.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock worth $179,000 after purchasing an additional 23,339,116 shares during the period. Lunia Capital LP raised its stake in Automatic Data Processing by 14,251.9% during the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after purchasing an additional 18,239,702 shares during the period. Finally, Polen Capital Management LLC raised its stake in Automatic Data Processing by 3.2% during the fourth quarter. Polen Capital Management LLC now owns 7,376,430 shares of the business services provider’s stock worth $967,198,000 after purchasing an additional 226,969 shares during the period. 79.79% of the stock is currently owned by institutional investors.

In related news, insider Jan Siegmund sold 27,272 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the sale, the insider now directly owns 77,595 shares of the company’s stock, valued at approximately $12,803,175. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donald Weinstein sold 1,706 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total transaction of $281,507.06. Following the sale, the vice president now directly owns 26,220 shares in the company, valued at $4,326,562.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

A number of equities analysts have commented on the stock. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Barclays lifted their target price on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Citigroup lifted their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Sanford C. Bernstein downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $166.89.

Automatic Data Processing stock opened at $165.54 on Friday. The company has a market capitalization of $71.91 billion, a PE ratio of 38.06, a P/E/G ratio of 2.34 and a beta of 0.92. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $168.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.08. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS. On average, research analysts forecast that Automatic Data Processing will post 5.44 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.

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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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