Markston International LLC decreased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 25.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,900 shares of the business services provider’s stock after selling 28,967 shares during the quarter. Markston International LLC’s holdings in Automatic Data Processing were worth $9,063,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its position in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Automatic Data Processing in the second quarter worth about $102,000. Grove Bank & Trust lifted its holdings in shares of Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares during the last quarter. Family Capital Trust Co bought a new position in shares of Automatic Data Processing in the third quarter worth about $137,000. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Automatic Data Processing in the second quarter worth about $136,000. 78.78% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on ADP. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank of Canada reissued a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a report on Friday, September 15th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Sanford C. Bernstein increased their target price on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $108.00 target price on shares of Automatic Data Processing in a report on Wednesday, October 4th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $114.17.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. analysts expect that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be paid a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is currently 64.12%.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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