Kingsview Wealth Management LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ: ADP – Get Rating) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,217 shares of the business services provider’s stock after buying an additional 96 shares during the period. Kingsview Wealth Management LLC’s holdings in Automatic Data Processing were worth $ 5,232,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of ADP. Mackenzie Financial Corp grew its holdings in shares of Automatic Data Processing by 1,386.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,531,541 shares of the business services provider’s stock valued at $ 377,647,000 after buying an additional 1,428,484 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Automatic Data Processing by 38.6% during the third quarter. UBS Asset Management Americas Inc. now owns 3,568,467 shares of the business services provider’s stock valued at $ 713,408,000 after buying an additional 993,139 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Automatic Data Processing during the third quarter valued at $ 123,551,000. State Street Corp grew its holdings in shares of Automatic Data Processing by 2.0% during the fourth quarter. State Street Corp now owns 18,427,297 shares of the business services provider’s stock valued at $ 4,562,432,000 after buying an additional 357,520 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 11.0% during the fourth quarter. Capital Research Global Investors now owns 3,475,411 shares of the business services provider’s stock valued at $ 856,967,000 after buying an additional 343,626 shares during the last quarter. 78.84% of the stock is owned by institutional investors.
In related news, VP Deborah L. Dyson sold 2,787 shares of the company stock in a transaction dated 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 owns 26,663 shares of the company stock, valued at approximately $ 6,253,806.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $ 214.07, for a total transaction of $ 66,789.84. Following the completion of the sale, the vice president now directly owns 1,663 shares of the company stock, valued at approximately $ 355,998.41. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.
ADP opened at $ 207.15 on Thursday. Automatic Data Processing, Inc. has a twelve month low of $ 192.18 and a twelve month high of $ 248.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $ 219.95 and a 200 day moving average price of $ 220.58. The company has a market cap of $ 86.54 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 2.53 and a beta of 0.82.
Automatic Data Processing (NASDAQ: ADP – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The business services provider reported $ 2.21 earnings per share for the quarter, topping the consensus estimate of $ 2.08 by $ 0.13. Automatic Data Processing had a net margin of 17.77% and a return on equity of 56.01%. The firm had revenue of $ 4.51 billion during the quarter, compared to the consensus estimate of $ 4.45 billion. During the same quarter in the prior year, the firm earned $ 1.89 EPS. The company revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 6.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be paid a dividend of $ 1.04 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $ 4.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio is presently 61.45%.
A number of equities research analysts have recently weighed in on ADP shares. Mizuho boosted their price objective on shares of Automatic Data Processing from $ 235.00 to $ 250.00 and gave the company a “buy” rating in a report on Monday, May 2nd. Citigroup upped their price target on shares of Automatic Data Processing from $ 212.00 to $ 230.00 in a report on Monday, May 2nd. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $ 223.00 price target on the stock in a report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Automatic Data Processing from $ 203.00 to $ 234.00 in a report on Thursday, April 28th. Finally, StockNews.com assumed coverage on shares of Automatic Data Processing in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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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