Jarislowsky Fraser Ltd Sells 1,128 Shares of Automatic Data Processing (ADP)

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Jarislowsky Fraser Ltd trimmed its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 217,547 shares of the business services provider’s stock after selling 1,128 shares during the period. Jarislowsky Fraser Ltd’s holdings in Automatic Data Processing were worth $28,524,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Reliance Trust Co. of Delaware lifted its holdings in shares of Automatic Data Processing by 3.0% during the fourth quarter. Reliance Trust Co. of Delaware now owns 3,485 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 100 shares during the last quarter. State Treasurer State of Michigan lifted its holdings in shares of Automatic Data Processing by 134.2% during the fourth quarter. State Treasurer State of Michigan now owns 343,281 shares of the business services provider’s stock valued at $45,011,000 after purchasing an additional 196,700 shares during the last quarter. South Texas Money Management Ltd. lifted its holdings in shares of Automatic Data Processing by 10.8% during the fourth quarter. South Texas Money Management Ltd. now owns 2,372 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 232 shares during the last quarter. Essex Savings Bank purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $5,610,000. Finally, Dupont Capital Management Corp lifted its holdings in shares of Automatic Data Processing by 224.9% during the fourth quarter. Dupont Capital Management Corp now owns 14,158 shares of the business services provider’s stock valued at $1,856,000 after purchasing an additional 9,800 shares during the last quarter. Hedge funds and other institutional investors own 83.57% of the company’s stock.

Several research firms have recently issued reports on ADP. Zacks Investment Research lowered shares of Automatic Data Processing from a “buy” rating to a “sell” rating in a report on Wednesday, January 2nd. Barclays began coverage on shares of Automatic Data Processing in a report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a report on Thursday, November 1st. Citigroup boosted their price objective on shares of Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, November 1st. Finally, Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a report on Thursday, November 1st. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $151.87.

Shares of ADP opened at $147.51 on Tuesday. The firm has a market cap of $63.95 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 2.14 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. Automatic Data Processing has a 1-year low of $109.14 and a 1-year high of $153.51.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.16. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.43 billion. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Sell-side analysts expect that Automatic Data Processing will post 5.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $3.16 dividend on an annualized basis and a yield of 2.14%. Automatic Data Processing’s dividend payout ratio is presently 72.64%.

In other news, VP Brock Albinson sold 4,389 shares of the business’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $129.00, for a total transaction of $566,181.00. Following the completion of the sale, the vice president now owns 8,144 shares of the company’s stock, valued at approximately $1,050,576. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 62,228 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $145.59, for a total transaction of $9,059,774.52. Following the sale, the chief executive officer now directly owns 137,177 shares of the company’s stock, valued at approximately $19,971,599.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,655 shares of company stock valued at $20,193,990. Company insiders own 0.33% of the company’s stock.

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Automatic Data Processing Company Profile

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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