Schroder Investment Management Group boosted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 131.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 406,488 shares of the business services provider’s stock after buying an additional 230,679 shares during the period. Schroder Investment Management Group owned about 0.09% of Automatic Data Processing worth $47,636,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after acquiring an additional 811,960 shares in the last quarter. BlackRock Inc. grew its stake in Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after acquiring an additional 237,439 shares in the last quarter. Pershing Square Capital Management L.P. grew its stake in Automatic Data Processing by 402.5% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after acquiring an additional 7,047,575 shares in the last quarter. Polen Capital Management LLC grew its stake in Automatic Data Processing by 1.5% during the 4th quarter. Polen Capital Management LLC now owns 6,915,960 shares of the business services provider’s stock valued at $810,481,000 after acquiring an additional 102,031 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Automatic Data Processing by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after acquiring an additional 190,717 shares in the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.
In related news, VP Donald Weinstein sold 2,275 shares of the business’s 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 completion of the sale, the vice president now directly owns 27,399 shares in the company, valued at approximately $3,179,105.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the completion of the sale, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The disclosure for this sale can be found here. In the last three months, insiders sold 219,666 shares of company stock valued at $25,650,681. 0.25% of the stock is currently owned by company insiders.
Shares of Automatic Data Processing (NASDAQ ADP) opened at $115.41 on Wednesday. The company has a market capitalization of $51,499.07, a P/E ratio of 30.10, a P/E/G ratio of 2.53 and a beta of 0.86. Automatic Data Processing has a 12 month low of $95.50 and a 12 month high of $125.24. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 EPS. research analysts expect that Automatic Data Processing will post 4.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 annualized dividend and a dividend yield of 2.18%. Automatic Data Processing’s payout ratio is 65.45%.
Several equities analysts have weighed in on the company. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Sanford C. Bernstein lifted their target price on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.02 to $135.00 in a research note on Monday, December 11th. Finally, Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a research note on Tuesday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Automatic Data Processing has an average rating of “Hold” and a consensus price target of $118.43.
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Automatic Data Processing 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.
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