HM Payson & Co. cut its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,153 shares of the business services provider’s stock after selling 517 shares during the quarter. HM Payson & Co.’s holdings in Automatic Data Processing were worth $9,404,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $27,000. Raab & Moskowitz Asset Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter worth about $28,000. Cranbrook Wealth Management LLC lifted its position in shares of Automatic Data Processing by 361.1% in the 4th quarter. Cranbrook Wealth Management LLC now owns 166 shares of the business services provider’s stock worth $28,000 after purchasing an additional 130 shares during the period. Pacitti Group Inc. bought a new stake in Automatic Data Processing during the 4th quarter valued at $32,000. Finally, West Bancorporation Inc. bought a new stake in Automatic Data Processing during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.
In other Automatic Data Processing news, VP Don Mcguire sold 326 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $172.07, for a total value of $56,094.82. Following the transaction, the vice president now owns 6,916 shares of the company’s stock, valued at $1,190,036.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Donald Weinstein sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $170.08, for a total transaction of $340,160.00. Following the transaction, the vice president now owns 25,710 shares in the company, valued at approximately $4,372,756.80. The disclosure for this sale can be found here. Insiders sold a total of 14,528 shares of company stock worth $2,556,051 in the last quarter. Insiders own 0.31% of the company’s stock.
ADP has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on shares of Automatic Data Processing from $145.00 to $137.00 and set an “equal weight” rating for the company in a report on Tuesday. Credit Suisse Group reissued a “buy” rating and issued a $190.00 price target on shares of Automatic Data Processing in a research note on Sunday, February 2nd. Citigroup increased their price objective on Automatic Data Processing from $170.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. ValuEngine upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $181.90.
Shares of ADP stock traded up $7.84 during trading hours on Thursday, reaching $130.43. The stock had a trading volume of 550,390 shares, compared to its average volume of 3,984,798. The firm has a 50-day simple moving average of $158.22 and a 200-day simple moving average of $164.86. Automatic Data Processing has a twelve month low of $103.11 and a twelve month high of $182.32. The firm has a market capitalization of $52.22 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.69 billion. Automatic Data Processing had a return on equity of 46.96% and a net margin of 16.97%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 EPS. On average, equities analysts anticipate that Automatic Data Processing will post 6.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.91 per share. The ex-dividend date is Thursday, March 12th. This represents a $3.64 annualized dividend and a yield of 2.79%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.79%.
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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