Exchange Traded Concepts LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 714.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733 shares of the business services provider’s stock after acquiring an additional 643 shares during the period. Exchange Traded Concepts LLC’s holdings in Automatic Data Processing were worth $181,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kozak & Associates Inc. purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $29,000. Bell Investment Advisors Inc purchased a new stake in Automatic Data Processing during the third quarter valued at approximately $28,000. Guidance Point Advisors LLC purchased a new stake in shares of Automatic Data Processing in the third quarter worth $30,000. Princeton Global Asset Management LLC increased its stake in shares of Automatic Data Processing by 158.7% in the third quarter. Princeton Global Asset Management LLC now owns 163 shares of the business services provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of Automatic Data Processing during the third quarter worth $49,000. Hedge funds and other institutional investors own 78.71% of the company’s stock.
In related news, VP Deborah L. Dyson sold 2,161 shares of Automatic Data Processing stock in a transaction dated Wednesday, January 12th. The stock was sold at an average price of $235.13, for a total value of $508,115.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher D’ambrosio sold 329 shares of Automatic Data Processing stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $206.93, for a total value of $68,079.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,161 shares of company stock worth $1,395,731. Corporate insiders own 0.34% of the company’s stock.
Several brokerages have recently weighed in on ADP. Cowen reduced their target price on shares of Automatic Data Processing from $235.00 to $213.00 in a research note on Thursday, January 27th. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $241.00 target price on the stock in a research report on Tuesday, December 21st. Citigroup raised their price target on shares of Automatic Data Processing from $220.00 to $238.00 and gave the company a “neutral” rating in a report on Wednesday, December 1st. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 target price for the company in a research note on Wednesday, March 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $238.00 price objective (up from $222.00) on shares of Automatic Data Processing in a research note on Friday, March 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $226.93.
Automatic Data Processing stock opened at $212.31 on Wednesday. The business has a 50 day moving average price of $211.93 and a two-hundred day moving average price of $217.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. The stock has a market cap of $89.18 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 2.53 and a beta of 0.82. Automatic Data Processing, Inc. has a 12 month low of $182.21 and a 12 month high of $248.96.
Automatic Data Processing (NASDAQ:ADP – Get Rating) last released its quarterly earnings results on Wednesday, January 26th. The business services provider reported $1.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.02. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Automatic Data Processing had a return on equity of 50.01% and a net margin of 17.48%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 6.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 1st. Shareholders of record on Friday, March 11th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.96%. Automatic Data Processing’s dividend payout ratio is presently 64.40%.
Automatic Data Processing Company Profile (Get Rating)
Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.
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