HBW Advisory Services LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,052 shares of the business services provider’s stock after selling 260 shares during the quarter. HBW Advisory Services LLC’s holdings in Automatic Data Processing were worth $3,235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of ADP. Plato Investment Management Ltd increased its holdings in Automatic Data Processing by 23.8% in the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock valued at $6,352,000 after buying an additional 5,114 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing in the third quarter valued at $209,000. Nomura Asset Management Co. Ltd. boosted its stake in Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new position in Automatic Data Processing in the third quarter valued at $470,000. Finally, Dash Acquisitions Inc. boosted its stake in Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Insiders Place Their Bets
In other news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,062 shares of company stock worth $12,299,550 in the last quarter. 0.21% of the stock is owned by corporate insiders.
Automatic Data Processing Stock Down 1.2 %
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the prior year, the company earned $2.08 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.
Automatic Data Processing Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a $1.54 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is currently 65.74%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on ADP shares. Royal Bank of Canada upped their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $289.91.
Read Our Latest Stock Report on Automatic Data Processing
Automatic Data Processing Company Profile
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.
Featured Articles
- Five stocks we like better than Automatic Data Processing
- What is the Shanghai Stock Exchange Composite Index?
- Driving Forward: Lucid’s Growing Sales and Gravity SUV’s Impact
- EV Stocks and How to Profit from Them
- Why Amazon’s Next Earnings Could Trigger a Stock Breakout
- Investing in Commodities: What Are They? How to Invest in Them
- With This Kind of Data, The Fed Isn’t Cutting Rates This Year
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.