Parametric Portfolio Associates LLC lowered its position in Automatic Data Processing (NASDAQ:ADP) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,628,296 shares of the business services provider’s stock after selling 50,160 shares during the period. Parametric Portfolio Associates LLC owned 0.37% of Automatic Data Processing worth $178,005,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ADP. Acrospire Investment Management LLC purchased a new stake in shares of Automatic Data Processing in the second quarter worth approximately $102,000. Proficio Capital Partners LLC raised its stake in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Automatic Data Processing in the third quarter worth approximately $114,000. Grove Bank & Trust raised its stake in shares of Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after purchasing an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. increased its position in shares of Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 78.67% of the company’s stock.
In related news, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the completion of the sale, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael A. Bonarti sold 3,900 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $452,517.00. The disclosure for this sale can be found here. Insiders have sold 107,619 shares of company stock valued at $12,684,290 in the last three months. 0.25% of the stock is owned by corporate insiders.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. research analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were paid a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.52 annualized dividend and a yield of 2.13%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.96%.
A number of analysts recently commented on the company. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research report on Friday. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Bank of America increased their price target on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $108.00 price target on shares of Automatic Data Processing in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $95.00 price target on shares of Automatic Data Processing in a research report on Friday, September 15th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $114.64.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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