Gamble Jones Investment Counsel Sells 2,568 Shares of Automatic Data Processing (ADP)

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Gamble Jones Investment Counsel lessened its position in shares of Automatic Data Processing (NASDAQ:ADP) by 18.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADP. Neuberger Berman Group LLC lifted its holdings in Automatic Data Processing by 4.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 355,800 shares of the business services provider’s stock worth $53,605,000 after purchasing an additional 13,915 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Automatic Data Processing by 199.3% during the 3rd quarter. Captrust Financial Advisors now owns 4,750 shares of the business services provider’s stock worth $719,000 after purchasing an additional 3,163 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in Automatic Data Processing by 264.5% during the 3rd quarter. Koshinski Asset Management Inc. now owns 5,541 shares of the business services provider’s stock worth $835,000 after purchasing an additional 4,021 shares in the last quarter. Nachman Norwood & Parrott Inc bought a new position in Automatic Data Processing in the 4th quarter worth about $1,606,000. Finally, Wakefield Asset Management LLLP bought a new position in Automatic Data Processing in the 3rd quarter worth about $409,000. 83.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Automatic Data Processing stock opened at $147.51 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $63.95 billion, a PE ratio of 33.91, a PEG ratio of 2.14 and a beta of 0.91. Automatic Data Processing has a 12 month low of $109.14 and a 12 month high of $153.51.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.18 by $0.16. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Research analysts forecast that Automatic Data Processing will post 5.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $3.16 annualized dividend and a dividend yield of 2.14%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 72.64%.

In other news, VP Brock Albinson sold 4,389 shares of the stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $129.00, for a total transaction of $566,181.00. Following the transaction, the vice president now directly owns 8,144 shares in the company, valued at approximately $1,050,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 62,228 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $145.59, for a total value of $9,059,774.52. Following the transaction, the chief executive officer now owns 137,177 shares in the company, valued at $19,971,599.43. The disclosure for this sale can be found here. Insiders have sold a total of 142,655 shares of company stock worth $20,193,990 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Barclays assumed coverage on Automatic Data Processing in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 target price on the stock. Jefferies Financial Group upped their target price on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a research note on Thursday, November 1st. BMO Capital Markets decreased their target price on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. Finally, Citigroup upped their target price on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $151.87.

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About Automatic Data Processing

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

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