Gamble Jones Investment Counsel lowered its holdings in Automatic Data Processing (NASDAQ:ADP) by 18.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,509 shares of the business services provider’s stock after selling 2,568 shares during the period. Gamble Jones Investment Counsel’s holdings in Automatic Data Processing were worth $1,509,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cerebellum GP LLC lifted its stake in shares of Automatic Data Processing by 1,376.9% in the 4th quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 179 shares during the period. Tributary Capital Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $26,000. Horan Securities Inc. purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $31,000. Moody National Bank Trust Division purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $37,000. Finally, Intercontinental Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 83.57% of the company’s stock.
ADP has been the subject of a number of research analyst reports. Barclays initiated coverage on Automatic Data Processing in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 target price for the company. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Jefferies Financial Group raised their target price on Automatic Data Processing to $167.00 and gave the company a “hold” rating in a research note on Thursday, November 1st. Citigroup raised their target price on Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a research note 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 for the company in a research note on Thursday, November 1st. Eight investment 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’s stock. The company has a consensus rating of “Buy” and a consensus price target of $151.87.
In other Automatic Data Processing news, insider Jan Siegmund sold 36,403 shares of Automatic Data Processing stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $145.02, for a total value of $5,279,163.06. Following the completion of the sale, the insider now owns 86,726 shares of the company’s stock, valued at approximately $12,577,004.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Douglas W. Politi sold 6,035 shares of Automatic Data Processing stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $145.01, for a total value of $875,135.35. Following the completion of the sale, the vice president now directly owns 28,829 shares of the company’s stock, valued at approximately $4,180,493.29. The disclosure for this sale can be found here. In the last three months, insiders sold 142,655 shares of company stock valued at $20,193,990. Corporate insiders own 0.33% of the company’s stock.
ADP stock opened at $147.51 on Tuesday. Automatic Data Processing has a twelve month low of $109.14 and a twelve month high of $153.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $63.95 billion, a P/E ratio of 33.91, a P/E/G ratio of 2.14 and a beta of 0.91.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing will post 5.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s payout ratio is 72.64%.
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Automatic Data Processing Company Profile
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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