Dowling & Yahnke LLC Has $4.43 Million Stake in Automatic Data Processing (ADP)

Dowling & Yahnke LLC lifted its holdings in Automatic Data Processing (NASDAQ:ADP) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,532 shares of the business services provider’s stock after purchasing an additional 2,076 shares during the period. Dowling & Yahnke LLC’s holdings in Automatic Data Processing were worth $4,431,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Cornerstone Wealth Management LLC grew its holdings in Automatic Data Processing by 43.7% during the 1st quarter. Cornerstone Wealth Management LLC now owns 5,044 shares of the business services provider’s stock worth $512,000 after acquiring an additional 1,533 shares in the last quarter. Robertson Stephens Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $271,000. RFG Advisory Group LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $272,000. Capital Planning Advisors LLC boosted its holdings in shares of Automatic Data Processing by 47.1% in the 1st quarter. Capital Planning Advisors LLC now owns 17,501 shares of the business services provider’s stock valued at $1,792,000 after buying an additional 5,605 shares in the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in shares of Automatic Data Processing by 6.6% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,578,996 shares of the business services provider’s stock valued at $161,673,000 after buying an additional 98,327 shares in the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.

In other news, CEO Carlos A. Rodriguez sold 95,756 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the transaction, the chief executive officer now directly owns 124,722 shares in the company, valued at approximately $14,728,420.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael A. Bonarti sold 3,900 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $452,517.00. The disclosure for this sale can be found here. Insiders have sold a total of 115,505 shares of company stock worth $13,612,788 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Shares of Automatic Data Processing (NASDAQ:ADP) traded up $1.29 during midday trading on Friday, reaching $118.47. 1,644,451 shares of the company were exchanged, compared to its average volume of 2,030,000. The firm has a market cap of $52,540.00, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the company earned $0.86 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were paid a dividend of $0.63 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.96%.

Several brokerages have recently issued reports on ADP. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Sanford C. Bernstein upped their price target on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 price target on shares of Automatic Data Processing in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $115.21.

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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.

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

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