Stralem & Co. Inc. lessened its position in Automatic Data Processing (NASDAQ:ADP) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,600 shares of the business services provider’s stock after selling 900 shares during the period. Stralem & Co. Inc.’s holdings in Automatic Data Processing were worth $994,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the business. Atlantic Trust LLC bought a new stake in shares of Automatic Data Processing during the second quarter worth $104,000. Integrated Investment Consultants LLC bought a new stake in shares of Automatic Data Processing during the second quarter worth $111,000. Jolley Asset Management LLC bought a new stake in shares of Automatic Data Processing during the second quarter worth $117,000. Fort L.P. bought a new stake in shares of Automatic Data Processing during the second quarter worth $119,000. Finally, Kaizen Advisory LLC increased its position in shares of Automatic Data Processing by 149.7% during the second quarter. Kaizen Advisory LLC now owns 1,081 shares of the business services provider’s stock worth $145,000 after acquiring an additional 648 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Automatic Data Processing in a research report on Tuesday, July 17th. They set an “outperform” rating for the company. Credit Suisse Group assumed coverage on shares of Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 price objective for the company. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Thursday, July 12th. Finally, Argus increased their price objective on shares of Automatic Data Processing from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $144.47.
Automatic Data Processing stock opened at $143.66 on Thursday. The firm has a market capitalization of $65.90 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 2.57 and a beta of 0.92. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.58.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.29 billion. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, research analysts anticipate that Automatic Data Processing will post 5.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.45%.
In other Automatic Data Processing news, VP Brock Albinson sold 3,345 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total value of $482,850.75. Following the completion of the sale, the vice president now owns 6,081 shares in the company, valued at $877,792.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael C. Eberhard sold 9,100 shares of the stock in a transaction on Friday, September 21st. The shares were sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the completion of the sale, the vice president now owns 48,468 shares of the company’s stock, valued at approximately $7,270,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,919 shares of company stock valued at $2,351,933. 0.33% of the stock is owned by insiders.
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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