Blair William & Co. IL trimmed its position in shares of Automatic Data Processing (NASDAQ:ADP) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 330,405 shares of the business services provider’s stock after selling 10,474 shares during the period. Blair William & Co. IL owned 0.08% of Automatic Data Processing worth $45,160,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MainStreet Investment Advisors LLC bought a new position in shares of Automatic Data Processing in the first quarter worth $568,000. Banco Santander S.A. boosted its holdings in shares of Automatic Data Processing by 8.9% in the first quarter. Banco Santander S.A. now owns 13,335 shares of the business services provider’s stock worth $1,823,000 after acquiring an additional 1,086 shares during the period. Heritage Trust Co boosted its holdings in shares of Automatic Data Processing by 2.9% in the first quarter. Heritage Trust Co now owns 35,085 shares of the business services provider’s stock worth $4,795,000 after acquiring an additional 1,000 shares during the period. Cornercap Investment Counsel Inc. bought a new position in shares of Automatic Data Processing in the first quarter worth $2,157,000. Finally, Argent Trust Co boosted its holdings in shares of Automatic Data Processing by 6.6% in the first quarter. Argent Trust Co now owns 37,783 shares of the business services provider’s stock worth $5,164,000 after acquiring an additional 2,344 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on ADP shares. UBS Group raised Automatic Data Processing from a “sell” rating to a “neutral” rating in a report on Wednesday, April 1st. BMO Capital Markets cut their price target on Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating for the company in a report on Thursday, April 30th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, May 15th. Cfra lowered their price objective on Automatic Data Processing from $176.00 to $161.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Finally, Morgan Stanley increased their price objective on Automatic Data Processing from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $166.50.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.92 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.92. Automatic Data Processing had a return on equity of 47.51% and a net margin of 17.20%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the business posted $1.77 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts forecast that Automatic Data Processing will post 5.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.91 per share. The ex-dividend date is Thursday, June 11th. This represents a $3.64 dividend on an annualized basis and a yield of 2.70%. Automatic Data Processing’s payout ratio is 66.79%.
In other Automatic Data Processing news, VP Brian L. Michaud sold 250 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $140.23, for a total transaction of $35,057.50. Following the sale, the vice president now owns 5,412 shares in the company, valued at $758,924.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.
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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