1832 Asset Management LP lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ: ADP – Get Rating) by 50.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 89,657 shares of the business services provider’s stock after selling 91,341 shares during the period. 1832 Asset Management LP’s holdings in Automatic Data Processing were worth $ 22,115,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Homrich & Berg grew its stake in Automatic Data Processing by 25.7% during the third quarter. Homrich & Berg now owns 8,695 shares of the business services provider’s stock worth $ 1,738,000 after buying an additional 1,775 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in shares of Automatic Data Processing by 11.5% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 7,647 shares of the business services provider’s stock valued at $ 1,885,000 after acquiring an additional 791 shares during the period. Clear Street Markets LLC boosted its holdings in shares of Automatic Data Processing by 15.1% during the 4th quarter. Clear Street Markets LLC now owns 4,275 shares of the business services provider’s stock worth $ 1,054,000 after buying an additional 562 shares during the period. McLean Asset Management Corp. bought a new stake in shares of Automatic Data Processing during the 4th quarter worth about $ 208,000. Finally, Man Group plc boosted its holdings in shares of Automatic Data Processing by 358.3% during the 3rd quarter. Man Group plc now owns 172,838 shares of the business services provider’s stock worth $ 34,554,000 after buying an additional 135,129 shares during the period. Hedge funds and other institutional investors own 78.84% of the company stock.
In related news, VP Christopher D’ambrosio sold 312 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $ 214.07, for a total value of $ 66,789.84. Following the sale, the vice president now directly owns 1,663 shares of the company stock, valued at $ 355,998.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Deborah L. Dyson sold 2,787 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $ 234.55, for a total transaction of $ 653,690.85. Following the completion of the sale, the vice president now directly owns 26,663 shares in the company, valued at $ 6,253,806.65. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
Shares of ADP stock opened at $ 211.62 on Monday. The firm has a 50-day moving average of $ 221.85 and a 200-day moving average of $ 220.96. The company has a market cap of $ 88.40 billion, a P / E ratio of 31.26, a P / E / G ratio of 2.53 and a beta of 0.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $ 192.18 and a one year high of $ 248.96.
Automatic Data Processing (NASDAQ: ADP – Get Rating) last issued its earnings results on Wednesday, April 27th. The business services provider reported $ 2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $ 2.08 by $ 0.13. The firm had revenue of $ 4.51 billion during the quarter, compared to analyst estimates of $ 4.45 billion. Automatic Data Processing had a net margin of 17.77% and a return on equity of 56.01%. The company quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $ 1.89 earnings per share. As a group, research analysts expect that Automatic Data Processing, Inc. will post 6.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be given a $ 1.04 dividend. The ex-dividend date is Thursday, June 9th. This represents a $ 4.16 dividend on an annualized basis and a dividend yield of 1.97%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.45%.
ADP has been the subject of several research analyst reports. Citigroup lifted their target price on shares of Automatic Data Processing from $ 212.00 to $ 230.00 in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Automatic Data Processing from $ 203.00 to $ 234.00 in a research note on Thursday, April 28th. Mizuho lifted their price objective on shares of Automatic Data Processing from $ 235.00 to $ 250.00 and gave the stock a “buy” rating in a research note on Monday, May 2nd. StockNews.com initiated coverage on shares of Automatic Data Processing in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $ 238.00 price objective (up previously from $ 222.00) on shares of Automatic Data Processing in a research note on Friday, March 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $ 230.69.
Automatic Data Processing Profile: (Get Rating)
Automatic Data Processing, Inc. provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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