Automatic Data Processing (ADP) Position Trimmed by Achmea Investment Management B.V.

Achmea Investment Management B.V. lowered its position in Automatic Data Processing (NASDAQ:ADP) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 50,682 shares of the business services provider’s stock after selling 2,628 shares during the period. Achmea Investment Management B.V.’s holdings in Automatic Data Processing were worth $7,632,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Atlantic Trust LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $104,000. Integrated Investment Consultants LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $111,000. Jolley Asset Management LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $117,000. Fort L.P. bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $119,000. Finally, Willingdon Wealth Management boosted its holdings in shares of Automatic Data Processing by 328.5% during the 3rd quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 657 shares during the last quarter. 77.94% of the stock is owned by institutional investors.

Automatic Data Processing stock opened at $147.19 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.03. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The stock has a market capitalization of $63.00 billion, a P/E ratio of 33.84, a PEG ratio of 2.19 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing will post 5.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a $0.79 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 13th. Automatic Data Processing’s dividend payout ratio is 63.45%.

ADP has been the subject of several research reports. Jefferies Financial Group started coverage on shares of Automatic Data Processing in a report on Monday, October 1st. They set a “hold” rating and a $160.00 price objective for the company. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Moffett Nathanson started coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They set a “buy” rating and a $180.00 target price on the stock. Credit Suisse Group started coverage on shares of Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Argus upped their target price on shares of Automatic Data Processing from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Buy” and an average target price of $148.69.

In related news, CEO Carlos A. Rodriguez sold 101,620 shares of the stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $147.46, for a total value of $14,984,885.20. Following the sale, the chief executive officer now directly owns 199,405 shares of the company’s stock, valued at approximately $29,404,261.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brock Albinson sold 3,345 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the sale, the vice president now directly owns 6,081 shares in the company, valued at $877,792.35. The disclosure for this sale can be found here. Insiders sold a total of 117,539 shares of company stock worth $17,336,818 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Automatic Data Processing (ADP) Position Trimmed by Achmea Investment Management B.V.” was published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/11/10/automatic-data-processing-adp-position-trimmed-by-achmea-investment-management-b-v.html.

Automatic Data Processing Company 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.

See Also: What is Cost of Debt?

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply