First Heartland Consultants Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 13.6% during the first quarter, Holdings Channel.com reports. The firm owned 2,370 shares of the business services provider’s stock after selling 372 shares during the quarter. First Heartland Consultants Inc.’s holdings in Automatic Data Processing were worth $539,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Segall Bryant & Hamill LLC boosted its holdings in Automatic Data Processing by 111.9% in the third quarter. Segall Bryant & Hamill LLC now owns 4,846 shares of the business services provider’s stock worth $969,000 after acquiring an additional 2,559 shares in the last quarter. Dixon Hubbard Feinour & Brown Inc. VA purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $417,000. Brookstone Capital Management raised its stake in shares of Automatic Data Processing by 5.7% in the fourth quarter. Brookstone Capital Management now owns 7,466 shares of the business services provider’s stock worth $1,783,000 after purchasing an additional 400 shares during the last quarter. DNB Asset Management AS raised its position in Automatic Data Processing by 5.8% during the fourth quarter. DNB Asset Management AS now owns 78,860 shares of the business services provider’s stock valued at $19,445,000 after acquiring an additional 4,339 shares in the last quarter. Finally, KMG Fiduciary Partners LLC purchased a new position in Automatic Data Processing during the fourth quarter valued at approximately $205,000. 78.84% of the stock is currently owned by institutional investors.
NASDAQ ADP opened at $213.23 on Friday. The stock’s fifty day moving average is $214.72 and its two hundred day moving average is $218.63. The firm has a market capitalization of $89.08 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $192.26 and a fifty-two week high of $248.96.
Automatic Data Processing (NASDAQ:ADP – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The business services provider reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.14. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.45 billion. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 6.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, June 9th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.45%.
ADP has been the subject of several recent research reports. Citigroup lifted their price target on Automatic Data Processing from $212.00 to $230.00 in a research report on Monday, May 2nd. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 price target for the company in a research report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Automatic Data Processing from $203.00 to $234.00 in a research report on Thursday, April 28th. Stifel Nicolaus reiterated a “hold” rating and set a $238.00 price target (up from $222.00) on shares of Automatic Data Processing in a research report on Friday, March 11th. Finally, StockNews.com started coverage on Automatic Data Processing in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $230.69.
In related news, VP Christopher D’ambrosio sold 312 shares of the business’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the sale, the vice president now owns 1,663 shares in the company, valued at approximately $355,998.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Deborah L. Dyson sold 2,787 shares of the business’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $234.55, for a total value of $653,690.85. Following the completion of the sale, the vice president now owns 26,663 shares in the company, valued at approximately $6,253,806.65. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.
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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