CCLA Investment Management cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 15.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,265 shares of the business services provider's stock after selling 2,508 shares during the period. CCLA Investment Management's holdings in Automatic Data Processing were worth $4,174,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of ADP. Oppenheimer Asset Management Inc. lifted its stake in Automatic Data Processing by 0.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,426 shares of the business services provider's stock valued at $3,682,000 after buying an additional 130 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Automatic Data Processing by 13.6% during the second quarter. Citizens Financial Group Inc. RI now owns 23,508 shares of the business services provider's stock valued at $5,621,000 after acquiring an additional 2,806 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Automatic Data Processing in the second quarter valued at approximately $27,044,000. Moors & Cabot Inc. lifted its position in shares of Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock valued at $1,360,000 after acquiring an additional 39 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in shares of Automatic Data Processing by 237.6% in the second quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider's stock worth $1,606,000 after acquiring an additional 4,735 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.
Automatic Data Processing Trading Up 0.6 %
Automatic Data Processing stock traded up $1.68 during mid-day trading on Wednesday, hitting $293.37. The company's stock had a trading volume of 1,764,377 shares, compared to its average volume of 1,639,009. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $119.54 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The stock's fifty day moving average is $298.48 and its two-hundred day moving average is $279.35.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the company earned $2.08 EPS. The company's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.
Automatic Data Processing Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.10%. Automatic Data Processing's dividend payout ratio is currently 65.74%.
Insider Buying and Selling
In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company's stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company's stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on the company. TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group increased their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $289.91.
Get Our Latest Stock Analysis on Automatic Data Processing
About Automatic Data Processing
(
Free Report)
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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