Eads & Heald Wealth Management cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,109 shares of the business services provider’s stock after selling 277 shares during the quarter. Automatic Data Processing accounts for about 1.2% of Eads & Heald Wealth Management’s investment portfolio, making the stock its 26th largest holding. Eads & Heald Wealth Management’s holdings in Automatic Data Processing were worth $2,374,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the company. Moloney Securities Asset Management LLC purchased a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $209,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after buying an additional 15,340 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in Automatic Data Processing in the third quarter valued at $470,000. Dash Acquisitions Inc. lifted its stake in shares of Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares during the period. Finally, DRW Securities LLC acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $951,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on ADP shares. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Citigroup lifted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $289.91.
Insider Activity at Automatic Data Processing
In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on 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 directly owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,129 shares of company stock worth $12,604,872. Company insiders own 0.21% of the company’s stock.
Automatic Data Processing Stock Up 0.7 %
Shares of ADP stock opened at $298.15 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average of $297.69 and a 200-day moving average of $281.01. The company has a market capitalization of $121.48 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.
Automatic Data Processing Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.
Automatic Data Processing Company Profile
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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