Carderock Capital Management Inc. Buys 2,734 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Carderock Capital Management Inc. boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,914 shares of the business services provider’s stock after buying an additional 2,734 shares during the quarter. Automatic Data Processing makes up 2.1% of Carderock Capital Management Inc.’s portfolio, making the stock its 24th largest position. Carderock Capital Management Inc.’s holdings in Automatic Data Processing were worth $7,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Moneta Group Investment Advisors LLC lifted its holdings in Automatic Data Processing by 94,265.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock valued at $1,617,256,000 after buying an additional 6,763,553 shares in the last quarter. Norges Bank purchased a new position in Automatic Data Processing during the 4th quarter valued at about $531,416,000. Veritas Asset Management LLP purchased a new position in Automatic Data Processing during the 2nd quarter valued at about $375,485,000. Imprint Wealth LLC increased its position in Automatic Data Processing by 24,743.9% during the 2nd quarter. Imprint Wealth LLC now owns 987,795 shares of the business services provider’s stock valued at $98,780,000 after purchasing an additional 983,819 shares during the period. Finally, Invesco Ltd. increased its position in Automatic Data Processing by 40.7% during the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after purchasing an additional 905,043 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Evercore ISI raised their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $254.58.

Get Our Latest Report on ADP

Automatic Data Processing Stock Down 1.0 %

Shares of Automatic Data Processing stock opened at $245.13 on Thursday. The company has a market cap of $100.70 billion, a P/E ratio of 28.54, a PEG ratio of 2.31 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-week high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average price is $247.38 and its 200-day moving average price is $238.98.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the business posted $1.96 EPS. Automatic Data Processing’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. Automatic Data Processing’s payout ratio is 65.19%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP John Ayala sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total transaction of $352,695.00. Following the transaction, the vice president now owns 19,183 shares in the company, valued at approximately $4,510,498.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Ayala sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total transaction of $352,695.00. Following the completion of the sale, the vice president now directly owns 19,183 shares in the company, valued at $4,510,498.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,662 shares of company stock worth $4,094,554. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Company Profile

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

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