Laurel Wealth Advisors LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,394 shares of the business services provider’s stock after selling 125 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $4,506,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ADP. Accredited Investors Inc. boosted its position in Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after buying an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after acquiring an additional 1,190,407 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Automatic Data Processing
In related news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% of the company’s stock.
Automatic Data Processing Stock Performance
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter last year, the firm posted $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.
Automatic Data Processing Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on ADP shares. Mizuho boosted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Citigroup raised their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $289.91.
Read Our Latest Analysis on ADP
Automatic Data Processing 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.
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