Garde Capital Inc. Invests $987,000 in Automatic Data Processing (ADP)

Garde Capital Inc. acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,030 shares of the business services provider’s stock, valued at approximately $987,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cedar Capital LLC acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $254,000. Intl Fcstone Inc. acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $1,699,000. AHL Partners LLP boosted its stake in Automatic Data Processing by 37.3% in the second quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock valued at $11,243,000 after acquiring an additional 29,836 shares in the last quarter. AMP Capital Investors Ltd boosted its stake in Automatic Data Processing by 20.0% in the third quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock valued at $33,636,000 after acquiring an additional 51,252 shares in the last quarter. Finally, Heritage Investors Management Corp boosted its stake in Automatic Data Processing by 2.3% in the second quarter. Heritage Investors Management Corp now owns 123,641 shares of the business services provider’s stock valued at $12,668,000 after acquiring an additional 2,795 shares in the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $118.30 on Friday. Automatic Data Processing has a one year low of $94.11 and a one year high of $121.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $52,430.00, a price-to-earnings ratio of 30.03, a PEG ratio of 2.90 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. research analysts predict that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 8th were paid a dividend of $0.63 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 7th. Automatic Data Processing’s payout ratio is presently 63.96%.

In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the completion of the transaction, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald Weinstein sold 2,275 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $263,968.25. Following the transaction, the vice president now directly owns 27,399 shares of the company’s stock, valued at approximately $3,179,105.97. The disclosure for this sale can be found here. Insiders have sold 107,619 shares of company stock valued at $12,684,290 over the last quarter. Insiders own 0.25% of the company’s stock.

Several equities research analysts have weighed in on ADP shares. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America raised their target price on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Finally, Royal Bank of Canada lowered their target price on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research note on Monday, November 6th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $114.64.

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Automatic Data Processing Company 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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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