R.M.SINCERBEAUX Capital Management LLC lowered its stake in Automatic Data Processing (NASDAQ:ADP) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,016 shares of the business services provider’s stock after selling 100 shares during the period. Automatic Data Processing accounts for 6.3% of R.M.SINCERBEAUX Capital Management LLC’s holdings, making the stock its 3rd largest holding. R.M.SINCERBEAUX Capital Management LLC’s holdings in Automatic Data Processing were worth $6,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in Automatic Data Processing by 8.1% during the second quarter. FMR LLC now owns 756,868 shares of the business services provider’s stock worth $101,526,000 after acquiring an additional 56,414 shares during the period. First United Bank Trust acquired a new position in Automatic Data Processing during the third quarter worth $202,000. State of New Jersey Common Pension Fund D acquired a new position in Automatic Data Processing during the third quarter worth $16,693,000. Sheets Smith Wealth Management acquired a new position in Automatic Data Processing during the third quarter worth $707,000. Finally, Gardiner Nancy B grew its holdings in Automatic Data Processing by 37.6% during the third quarter. Gardiner Nancy B now owns 19,005 shares of the business services provider’s stock worth $2,864,000 after acquiring an additional 5,190 shares during the period. Hedge funds and other institutional investors own 83.57% of the company’s stock.
Automatic Data Processing stock opened at $147.51 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. Automatic Data Processing has a fifty-two week low of $109.14 and a fifty-two week high of $153.51. The firm has a market capitalization of $63.95 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.14 and a beta of 0.91.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.16. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Automatic Data Processing will post 5.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a $0.79 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $3.16 annualized dividend and a dividend yield of 2.14%. Automatic Data Processing’s dividend payout ratio is currently 72.64%.
In other news, VP Brock Albinson sold 4,389 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $129.00, for a total value of $566,181.00. Following the sale, the vice president now directly owns 8,144 shares in the company, valued at $1,050,576. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Ayala sold 3,121 shares of the company’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $133.98, for a total value of $418,151.58. Following the completion of the sale, the vice president now owns 4,140 shares in the company, valued at $554,677.20. The disclosure for this sale can be found here. Insiders sold 142,655 shares of company stock worth $20,193,990 over the last 90 days. Company insiders own 0.33% of the company’s stock.
A number of research analysts recently weighed in on ADP shares. Barclays started coverage on Automatic Data Processing in a report on Wednesday, November 14th. They set an “overweight” rating and a $168.00 price objective on the stock. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Jefferies Financial Group upped their price objective on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a report on Thursday, November 1st. Citigroup upped their target price on Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, November 1st. Finally, BMO Capital Markets lowered their target price on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a report on Thursday, November 1st. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $151.87.
About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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