Raymond James Financial Services Advisors Inc. reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,577 shares of the business services provider’s stock after selling 6,981 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Automatic Data Processing were worth $15,889,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Beach Investment Management LLC. acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $2,271,000. Mirador Capital Partners LP grew its position in Automatic Data Processing by 1.2% in the 2nd quarter. Mirador Capital Partners LP now owns 9,246 shares of the business services provider’s stock valued at $1,030,000 after acquiring an additional 108 shares in the last quarter. Motco grew its position in Automatic Data Processing by 8.0% in the 2nd quarter. Motco now owns 49,680 shares of the business services provider’s stock valued at $5,090,000 after acquiring an additional 3,696 shares in the last quarter. Greenwood Capital Associates LLC grew its position in Automatic Data Processing by 21.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 33,642 shares of the business services provider’s stock valued at $3,447,000 after acquiring an additional 5,846 shares in the last quarter. Finally, Good Life Advisors LLC grew its position in Automatic Data Processing by 1.7% in the 2nd quarter. Good Life Advisors LLC now owns 2,189 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.
In other news, VP Donald Weinstein sold 2,275 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 27,399 shares in the company, valued at $3,179,105.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stuart Sackman sold 238 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $121.65, for a total value of $28,952.70. Following the sale, the vice president now owns 18,676 shares of the company’s stock, valued at approximately $2,271,935.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,666 shares of company stock valued at $25,650,681. 0.25% of the stock is owned by company insiders.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. equities research analysts expect that Automatic Data Processing will post 4.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 65.45%.
A number of equities analysts have recently commented on ADP shares. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research report on Friday, January 5th. Morgan Stanley reissued an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Citigroup reaffirmed a “neutral” rating and issued a $118.00 price target (up from $110.00) on shares of Automatic Data Processing in a report on Friday, January 12th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $118.43.
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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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