Automatic Data Processing (NASDAQ:ADP) is Fayerweather Charles’ 10th Largest Position

Fayerweather Charles lowered its holdings in Automatic Data Processing (NASDAQ:ADP) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,693 shares of the business services provider’s stock after selling 486 shares during the period. Automatic Data Processing accounts for 3.6% of Fayerweather Charles’ investment portfolio, making the stock its 10th biggest position. Fayerweather Charles’ holdings in Automatic Data Processing were worth $2,166,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Schroder Investment Management Group lifted its holdings in Automatic Data Processing by 38.7% in the second quarter. Schroder Investment Management Group now owns 557,351 shares of the business services provider’s stock valued at $92,147,000 after acquiring an additional 155,483 shares during the period. United Capital Financial Advisers LLC lifted its holdings in Automatic Data Processing by 3.3% in the second quarter. United Capital Financial Advisers LLC now owns 24,628 shares of the business services provider’s stock valued at $4,072,000 after acquiring an additional 781 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Automatic Data Processing by 6.3% in the second quarter. Jacobs Levy Equity Management Inc. now owns 8,490 shares of the business services provider’s stock valued at $1,404,000 after acquiring an additional 500 shares during the period. Echo Street Capital Management LLC lifted its holdings in Automatic Data Processing by 21.4% in the second quarter. Echo Street Capital Management LLC now owns 100,503 shares of the business services provider’s stock valued at $16,616,000 after acquiring an additional 17,691 shares during the period. Finally, AMP Capital Investors Ltd lifted its holdings in Automatic Data Processing by 1.5% in the second quarter. AMP Capital Investors Ltd now owns 302,943 shares of the business services provider’s stock valued at $49,686,000 after acquiring an additional 4,602 shares during the period. 80.05% of the stock is owned by institutional investors and hedge funds.

In related news, VP Donald Weinstein sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.08, for a total value of $340,160.00. Following the completion of the transaction, the vice president now directly owns 25,710 shares of the company’s stock, valued at approximately $4,372,756.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 48,571 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $168.51, for a total value of $8,184,699.21. Following the completion of the transaction, the chief executive officer now directly owns 144,899 shares of the company’s stock, valued at $24,416,930.49. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Shares of ADP stock traded up $1.58 during trading hours on Wednesday, hitting $172.81. 2,096,212 shares of the company’s stock were exchanged, compared to its average volume of 1,401,271. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. The firm has a market cap of $74.03 billion, a P/E ratio of 31.71, a P/E/G ratio of 2.14 and a beta of 0.86. The firm has a 50 day moving average of $169.85 and a two-hundred day moving average of $166.00. Automatic Data Processing has a fifty-two week low of $131.84 and a fifty-two week high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.01. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. On average, equities analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

Automatic Data Processing declared that its board has approved a stock buyback plan on Tuesday, November 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.11%. Automatic Data Processing’s payout ratio is 66.79%.

A number of research analysts have issued reports on ADP shares. Citigroup boosted their price target on Automatic Data Processing from $170.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday. Moffett Nathanson downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Tuesday, January 7th. ValuEngine raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Wolfe Research downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $182.11.

Automatic Data Processing 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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