Genesee Valley Trust Co. cut its holdings in Automatic Data Processing (NASDAQ:ADP) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,583 shares of the business services provider’s stock after selling 1,254 shares during the quarter. Automatic Data Processing accounts for 1.0% of Genesee Valley Trust Co.’s investment portfolio, making the stock its 16th largest position. Genesee Valley Trust Co.’s holdings in Automatic Data Processing were worth $2,412,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. ING Groep NV increased its position in shares of Automatic Data Processing by 1.4% in the fourth quarter. ING Groep NV now owns 149,953 shares of the business services provider’s stock valued at $17,573,000 after buying an additional 2,046 shares in the last quarter. Cypress Wealth Services LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $1,209,000. Allegis Investment Advisors LLC increased its position in shares of Automatic Data Processing by 23.8% in the fourth quarter. Allegis Investment Advisors LLC now owns 24,263 shares of the business services provider’s stock valued at $2,843,000 after buying an additional 4,672 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $5,981,000. Finally, Bank of The Ozarks acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $1,920,000. Institutional investors and hedge funds own 78.70% of the company’s stock.
A number of brokerages have recently issued reports on ADP. Stifel Nicolaus lifted their price target on Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Barclays lifted their price target on Automatic Data Processing from $121.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Tuesday, January 23rd. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of Automatic Data Processing in a research note on Thursday, February 1st. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $118.43.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm’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 $0.87 earnings per share. equities analysts forecast that Automatic Data Processing will post 4.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.45%.
In other Automatic Data Processing news, VP Maria Black sold 1,786 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $119.72, for a total transaction of $213,819.92. Following the transaction, the vice president now owns 11,858 shares of the company’s stock, valued at $1,419,639.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald Weinstein sold 2,275 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $263,968.25. Following the transaction, the vice president now directly owns 27,399 shares in the company, valued at approximately $3,179,105.97. The disclosure for this sale can be found here. Insiders have sold 149,767 shares of company stock worth $17,801,722 in the last three months. 0.25% of the stock is currently owned by corporate insiders.
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Automatic Data Processing 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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