First Interstate Bank grew its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,444 shares of the business services provider’s stock after purchasing an additional 190 shares during the quarter. First Interstate Bank’s holdings in Automatic Data Processing were worth $321,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ADP. Nwam LLC bought a new position in Automatic Data Processing in the fourth quarter worth $398,000. Valeo Financial Advisors LLC raised its holdings in Automatic Data Processing by 9.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 4,416 shares of the business services provider’s stock worth $579,000 after purchasing an additional 377 shares in the last quarter. Bingham Osborn & Scarborough LLC raised its holdings in Automatic Data Processing by 5.4% in the fourth quarter. Bingham Osborn & Scarborough LLC now owns 4,573 shares of the business services provider’s stock worth $600,000 after purchasing an additional 234 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in Automatic Data Processing by 3.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 16,400 shares of the business services provider’s stock worth $2,151,000 after purchasing an additional 525 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co bought a new position in shares of Automatic Data Processing during the fourth quarter valued at $6,031,000. 77.89% of the stock is owned by hedge funds and other institutional investors.
In other news, VP John Ayala sold 3,121 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $133.98, for a total transaction of $418,151.58. Following the transaction, the vice president now owns 4,140 shares of the company’s stock, valued at approximately $554,677.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 101,620 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $147.46, for a total value of $14,984,885.20. Following the transaction, the chief executive officer now directly owns 199,405 shares in the company, valued at approximately $29,404,261.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,837 shares of company stock worth $29,024,577. Corporate insiders own 0.33% of the company’s stock.
NASDAQ ADP opened at $145.29 on Wednesday. The company has a market cap of $62.57 billion, a PE ratio of 33.40, a P/E/G ratio of 2.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing has a fifty-two week low of $107.61 and a fifty-two week high of $153.51.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.16. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. On average, equities analysts expect that Automatic Data Processing will post 5.37 earnings per share for the current year.
The business also recently announced 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. This represents a $3.16 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.
Several equities research analysts recently commented on the company. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “sell” rating in a report on Wednesday, January 2nd. Barclays started coverage on Automatic Data Processing in a report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 price objective for the company. BMO Capital Markets dropped 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 report on Thursday, November 1st. Citigroup raised their target price on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, November 1st. Finally, Jefferies Financial Group raised their target price on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a research report on Thursday, November 1st. Eight 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 stock. Automatic Data Processing presently has a consensus rating of “Buy” and an average target price of $151.87.
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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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