Accurate Wealth Management LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 994 shares of the business services provider’s stock after selling 56 shares during the quarter. Accurate Wealth Management LLC’s holdings in Automatic Data Processing were worth $285,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $27,044,000. Edgestream Partners L.P. grew its position in shares of Automatic Data Processing by 237.6% in the second quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider’s stock valued at $1,606,000 after purchasing an additional 4,735 shares during the period. E Fund Management Co. Ltd. raised its position in shares of Automatic Data Processing by 1.7% during the 2nd quarter. E Fund Management Co. Ltd. now owns 4,111 shares of the business services provider’s stock worth $981,000 after purchasing an additional 68 shares during the last quarter. Waterloo Capital L.P. lifted its stake in Automatic Data Processing by 10.2% in the 2nd quarter. Waterloo Capital L.P. now owns 1,057 shares of the business services provider’s stock valued at $252,000 after buying an additional 98 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in Automatic Data Processing in the 2nd quarter valued at about $314,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ADP. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $289.91.
Automatic Data Processing Trading Up 1.0 %
ADP opened at $296.23 on Friday. The business’s 50 day moving average price is $298.24 and its 200 day moving average price is $279.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $120.70 billion, a PE ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.
Automatic Data Processing Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.
Insider Buying and Selling
In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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