Lourd Capital LLC decreased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 22.5% in the first quarter, Holdings Channel reports. The institutional investor owned 5,298 shares of the business services provider’s stock after selling 1,534 shares during the quarter. Lourd Capital LLC’s holdings in Automatic Data Processing were worth $846,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ADP. Spectrum Management Group Inc. raised its stake in shares of Automatic Data Processing by 2.9% in the first quarter. Spectrum Management Group Inc. now owns 20,295 shares of the business services provider’s stock worth $3,242,000 after purchasing an additional 565 shares during the last quarter. Pennsylvania Trust Co raised its stake in shares of Automatic Data Processing by 48.7% in the first quarter. Pennsylvania Trust Co now owns 230,852 shares of the business services provider’s stock worth $17,865,000 after purchasing an additional 75,651 shares during the last quarter. Northstar Group Inc. raised its stake in shares of Automatic Data Processing by 1.0% in the first quarter. Northstar Group Inc. now owns 16,656 shares of the business services provider’s stock worth $2,661,000 after purchasing an additional 158 shares during the last quarter. Palisade Asset Management LLC raised its stake in shares of Automatic Data Processing by 2.2% in the first quarter. Palisade Asset Management LLC now owns 28,048 shares of the business services provider’s stock worth $4,480,000 after purchasing an additional 592 shares during the last quarter. Finally, Welch Group LLC raised its stake in shares of Automatic Data Processing by 6.9% in the first quarter. Welch Group LLC now owns 1,863 shares of the business services provider’s stock worth $298,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 80.48% of the company’s stock.
In other Automatic Data Processing news, VP Stuart Sackman sold 1,478 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the sale, the vice president now owns 24,122 shares of the company’s stock, valued at $3,742,045.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jan Siegmund sold 36,403 shares of the business’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $145.02, for a total value of $5,279,163.06. Following the sale, the insider now directly owns 86,726 shares of the company’s stock, valued at approximately $12,577,004.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,721 shares of company stock valued at $12,714,980. 0.33% of the stock is owned by company insiders.
Automatic Data Processing stock opened at $162.14 on Wednesday. The firm has a market cap of $71.30 billion, a P/E ratio of 37.27, a PEG ratio of 2.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing has a one year low of $112.58 and a one year high of $164.41.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.16. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. Automatic Data Processing’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, research analysts anticipate that Automatic Data Processing will post 5.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 72.64%.
Several research analysts have recently weighed in on ADP shares. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “sell” rating in a research note on Wednesday, January 2nd. BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $153.43.
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Automatic Data Processing 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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