Epoch Investment Partners Inc. cut its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 84.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 271,969 shares of the business services provider’s stock after selling 1,461,775 shares during the quarter. Epoch Investment Partners Inc. owned about 0.06% of Automatic Data Processing worth $29,732,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new stake in shares of Automatic Data Processing during the second quarter valued at $102,000. Proficio Capital Partners LLC boosted its position in Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the last quarter. Grove Bank & Trust boosted its position in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after purchasing an additional 170 shares during the last quarter. Armbruster Capital Management Inc. boosted its position in Automatic Data Processing by 2.5% in the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after purchasing an additional 32 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new position in Automatic Data Processing in the second quarter worth about $136,000. Hedge funds and other institutional investors own 78.67% of the company’s stock.
ADP has been the topic of several research reports. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Citigroup reissued a “neutral” rating and issued a $118.00 target price (up from $110.00) on shares of Automatic Data Processing in a research report on Friday. BMO Capital Markets dropped their target price on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Bank of America lifted their price objective on Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $115.21.
Shares of Automatic Data Processing (NASDAQ ADP) opened at $118.47 on Friday. The stock has a market capitalization of $52,540.00, a P/E ratio of 30.07, a P/E/G 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 earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. equities analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date was Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is 63.96%.
In other Automatic Data Processing news, VP Donald Weinstein sold 2,275 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $263,968.25. Following the sale, the vice president now owns 27,399 shares of the company’s stock, valued at approximately $3,179,105.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Jones III sold 5,688 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $659,978.64. Following the completion of the sale, the director now directly owns 53,956 shares in the company, valued at approximately $6,260,514.68. 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 in the last three months. 0.25% of the stock is owned by corporate insiders.
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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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