WESPAC Advisors SoCal LLC grew its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 7,029.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,290 shares of the business services provider’s stock after buying an additional 34,795 shares during the quarter. Automatic Data Processing accounts for about 3.1% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 13th biggest position. WESPAC Advisors SoCal LLC’s holdings in Automatic Data Processing were worth $5,637,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Lunia Capital LP raised its position in Automatic Data Processing by 14,251.9% in the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after acquiring an additional 18,239,702 shares during the period. Fiera Capital Corp raised its position in Automatic Data Processing by 77.3% in the fourth quarter. Fiera Capital Corp now owns 5,287 shares of the business services provider’s stock worth $693,000 after acquiring an additional 2,305 shares during the period. Stifel Financial Corp raised its position in Automatic Data Processing by 7.3% in the fourth quarter. Stifel Financial Corp now owns 664,894 shares of the business services provider’s stock worth $87,052,000 after acquiring an additional 45,318 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Automatic Data Processing by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 330,189 shares of the business services provider’s stock valued at $43,385,000 after purchasing an additional 1,376 shares during the period. Finally, Doyle Wealth Management bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $148,000. Hedge funds and other institutional investors own 81.20% of the company’s stock.
NASDAQ:ADP traded up $2.50 during mid-day trading on Thursday, hitting $161.87. 58,628 shares of the stock traded hands, compared to its average volume of 1,987,656. The stock has a market cap of $68.77 billion, a P/E ratio of 37.20, a P/E/G ratio of 2.23 and a beta of 0.95. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $165.50. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.69 by $0.08. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. Automatic Data Processing’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.57 earnings per share. On average, equities analysts forecast that Automatic Data Processing will post 5.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 1.95%. Automatic Data Processing’s dividend payout ratio is presently 72.64%.
In other Automatic Data Processing news, VP Donald Weinstein sold 1,706 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total value of $281,507.06. Following the completion of the transaction, the vice president now owns 26,220 shares of the company’s stock, valued at approximately $4,326,562.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jan Siegmund sold 27,272 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the completion of the transaction, the insider now directly owns 77,595 shares of the company’s stock, valued at approximately $12,803,175. The disclosure for this sale can be found here. In the last three months, insiders sold 30,456 shares of company stock valued at $5,010,669. Corporate insiders own 0.33% of the company’s stock.
Several research firms have recently issued reports on ADP. Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Citigroup boosted their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Sanford C. Bernstein lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Finally, Barclays boosted their price target on shares of Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $159.00.
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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.
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