KCM Investment Advisors LLC increased its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 183,643 shares of the business services provider’s stock after purchasing an additional 803 shares during the period. Automatic Data Processing accounts for 1.3% of KCM Investment Advisors LLC’s holdings, making the stock its 13th biggest holding. KCM Investment Advisors LLC’s holdings in Automatic Data Processing were worth $21,521,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pershing Square Capital Management L.P. boosted its stake in Automatic Data Processing by 402.5% in the third 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. Generation Investment Management LLP acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $165,761,000. Canada Pension Plan Investment Board boosted its stake in Automatic Data Processing by 42,776.7% in the third quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock valued at $150,509,000 after acquiring an additional 1,373,560 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Automatic Data Processing by 42.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,993,394 shares of the business services provider’s stock valued at $467,986,000 after acquiring an additional 1,199,402 shares in the last quarter. Finally, Winslow Capital Management LLC boosted its stake in Automatic Data Processing by 46.5% in the fourth quarter. Winslow Capital Management LLC now owns 1,617,417 shares of the business services provider’s stock valued at $189,545,000 after acquiring an additional 513,652 shares in the last quarter. Hedge funds and other institutional investors own 78.52% of the company’s stock.
Shares of Automatic Data Processing stock opened at $114.85 on Thursday. Automatic Data Processing has a one year low of $95.50 and a one year high of $125.24. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $51,224.24, a price-to-earnings ratio of 30.22, a PEG ratio of 2.54 and a beta of 0.90.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. research analysts predict that Automatic Data Processing will post 4.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, March 8th. This represents a $2.52 annualized dividend and a dividend yield of 2.19%. Automatic Data Processing’s payout ratio is currently 65.45%.
In related news, CEO Carlos A. Rodriguez sold 69,899 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the completion of the transaction, the chief executive officer now owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was 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 of the company’s stock, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,666 shares of company stock valued at $25,650,681. 0.25% of the stock is currently owned by corporate insiders.
ADP has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a research note on Friday, January 5th. BidaskClub upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Citigroup restated a “neutral” rating and issued a $118.00 target price (up from $110.00) on shares of Automatic Data Processing in a research note on Friday, January 12th. Royal Bank of Canada restated a “neutral” rating on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Goldman Sachs upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.02 to $135.00 in a research note on Monday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $118.43.
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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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