HBK Investments L P boosted its position in Automatic Data Processing (NASDAQ:ADP) by 360.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 198,986 shares of the business services provider’s stock after purchasing an additional 155,786 shares during the period. HBK Investments L P’s holdings in Automatic Data Processing were worth $23,319,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Two Sigma Advisers LP bought a new position in Automatic Data Processing in the 4th quarter valued at about $53,372,000. Premia Global Advisors LLC bought a new position in Automatic Data Processing in the 4th quarter valued at about $648,000. Ellington Management Group LLC bought a new position in Automatic Data Processing in the 4th quarter valued at about $773,000. Jones Financial Companies Lllp raised its holdings in Automatic Data Processing by 16.5% in the 4th quarter. Jones Financial Companies Lllp now owns 3,561 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 504 shares during the period. Finally, HPM Partners LLC raised its holdings in Automatic Data Processing by 6.1% in the 4th quarter. HPM Partners LLC now owns 9,879 shares of the business services provider’s stock valued at $1,158,000 after acquiring an additional 572 shares during the period. Institutional investors and hedge funds own 78.57% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Monday, February 5th. Royal Bank of Canada reissued a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. BMO Capital Markets lowered their price target on shares of Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Barclays increased their price target on shares of Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Finally, Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a report on Thursday, February 1st. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $118.43.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. research analysts predict that Automatic Data Processing will post 4.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. Automatic Data Processing’s dividend payout ratio is presently 65.45%.
In related news, VP Donald Weinstein sold 2,275 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $263,968.25. Following the transaction, the vice president now directly owns 27,399 shares of the company’s stock, valued at $3,179,105.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 69,899 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the completion of the transaction, the chief executive officer now directly owns 161,085 shares in the company, valued at $18,088,234.65. The disclosure for this sale can be found here. Insiders have sold 219,666 shares of company stock worth $25,650,681 over the last ninety days. Insiders own 0.25% of the company’s stock.
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About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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