Guggenheim Capital LLC increased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 615,646 shares of the business services provider’s stock after acquiring an additional 33,570 shares during the period. Guggenheim Capital LLC owned approximately 0.14% of Automatic Data Processing worth $72,149,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Legacy Advisors LLC purchased a new position in Automatic Data Processing in the 4th quarter worth about $103,000. Truewealth LLC purchased a new position in Automatic Data Processing in the 4th quarter worth about $104,000. Calton & Associates Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth about $118,000. Fuller & Thaler Asset Management Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth about $117,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $114,000. 78.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Automatic Data Processing (ADP) opened at $118.83 on Monday. The stock has a market capitalization of $52,673.74, a P/E ratio of 30.78, a PEG ratio of 2.61 and a beta of 0.90. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a 1 year low of $95.50 and a 1 year high of $125.24.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is 65.45%.
ADP has been the subject of several research reports. Barclays lifted their price target on Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. BMO Capital Markets reduced their price target on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. BidaskClub upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $118.43.
In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the sale, the chief executive officer now owns 124,722 shares of the company’s stock, valued at approximately $14,728,420.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.29, for a total value of $7,848,958.71. Following the completion of the sale, the chief executive officer now directly owns 161,085 shares in the company, valued at approximately $18,088,234.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,666 shares of company stock worth $25,650,681. 0.25% of the stock is owned by insiders.
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Automatic Data Processing Company Profile
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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