CX Institutional Raises Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)


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CX Institutional boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,871 shares of the business services provider’s stock after acquiring an additional 374 shares during the period. CX Institutional’s holdings in Automatic Data Processing were worth $506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADP. Bainco International Investors bought a new stake in Automatic Data Processing during the 4th quarter valued at about $34,000. Glassman Wealth Services lifted its holdings in shares of Automatic Data Processing by 67.8% in the third quarter. Glassman Wealth Services now owns 198 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Advisory Alpha LLC purchased a new position in shares of Automatic Data Processing in the third quarter worth $29,000. Sun Life Financial INC purchased a new position in shares of Automatic Data Processing in the third quarter worth $36,000. Finally, ELM Advisors LLC bought a new stake in Automatic Data Processing in the fourth quarter worth $48,000. 79.65% of the stock is owned by institutional investors.

In related news, VP Deborah L. Dyson sold 600 shares of the company’s stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $170.93, for a total value of $102,558.00. Following the completion of the sale, the vice president now directly owns 24,786 shares of the company’s stock, valued at $4,236,670.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brock Albinson sold 2,151 shares of the company’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $175.97, for a total transaction of $378,511.47. Following the completion of the sale, the vice president now directly owns 38,685 shares of the company’s stock, valued at $6,807,399.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,731 shares of company stock worth $12,957,058. Company insiders own 0.34% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Cowen cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $150.00 to $143.00 in a research report on Monday, September 21st. Credit Suisse Group boosted their price target on shares of Automatic Data Processing from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, November 9th. Evercore ISI cut shares of Automatic Data Processing from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $197.00 to $143.00 in a research report on Tuesday. Wells Fargo & Company assumed coverage on shares of Automatic Data Processing in a research report on Friday, December 18th. They issued an “overweight” rating and a $200.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Automatic Data Processing from $147.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $158.00.

NASDAQ ADP opened at $164.66 on Thursday. The company’s 50-day moving average price is $174.09 and its 200-day moving average price is $153.43. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.34. The stock has a market cap of $70.61 billion, a PE ratio of 28.59, a PEG ratio of 2.53 and a beta of 0.70. Automatic Data Processing, Inc. has a 12 month low of $103.11 and a 12 month high of $182.32.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 28th. The business services provider reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.44. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. During the same period in the prior year, the business posted $1.34 earnings per share. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 5.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Stockholders of record on Friday, March 12th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s payout ratio is presently 62.84%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through 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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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