Covington Capital Management increased its holdings in Automatic Data Processing (NASDAQ:ADP) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,123 shares of the business services provider’s stock after acquiring an additional 1,150 shares during the quarter. Covington Capital Management’s holdings in Automatic Data Processing were worth $7,397,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in ADP. Pershing Square Capital Management L.P. raised its stake in Automatic Data Processing by 402.5% during the third quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after buying an additional 7,047,575 shares in the last quarter. Janus Henderson Group PLC raised its stake in Automatic Data Processing by 5,962.5% during the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after buying an additional 3,947,657 shares in the last quarter. Generation Investment Management LLP acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $165,761,000. Canada Pension Plan Investment Board raised its stake in Automatic Data Processing by 42,776.7% during the third quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock valued at $150,509,000 after buying an additional 1,373,560 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Automatic Data Processing by 42.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,993,394 shares of the business services provider’s stock valued at $467,986,000 after buying an additional 1,199,402 shares in the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.
In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 124,722 shares of the company’s stock, valued at approximately $14,728,420.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total value of $7,848,958.71. Following the completion of the transaction, the chief executive officer now directly owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The disclosure for this sale can be found here. Insiders sold a total of 219,666 shares of company stock valued at $25,650,681 over the last three months. Corporate insiders own 0.25% of the company’s stock.
Automatic Data Processing (NASDAQ ADP) traded down $0.50 during trading hours on Wednesday, hitting $116.89. The stock had a trading volume of 123,871 shares, compared to its average volume of 1,851,844. The company has a market capitalization of $51,840.00, a price-to-earnings ratio of 31.10, a PEG ratio of 2.58 and a beta of 0.90. Automatic Data Processing has a 52 week low of $95.50 and a 52 week high of $125.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. sell-side analysts forecast that Automatic Data Processing will post 4.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is 67.02%.
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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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