Automatic Data Processing (ADP) Holdings Trimmed by Buckhead Capital Management LLC

Buckhead Capital Management LLC lessened its holdings in Automatic Data Processing (NASDAQ:ADP) by 15.4% in the 4th quarter, HoldingsChannel reports. The fund owned 29,100 shares of the business services provider’s stock after selling 5,300 shares during the period. Buckhead Capital Management LLC’s holdings in Automatic Data Processing were worth $3,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADP. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 2.4% in the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after purchasing an additional 811,960 shares during the last quarter. BlackRock Inc. raised its stake in shares of Automatic Data Processing by 0.8% in the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after purchasing an additional 237,439 shares during the last quarter. Pershing Square Capital Management L.P. raised its stake in shares of Automatic Data Processing by 402.5% in the third quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after purchasing an additional 7,047,575 shares during the last quarter. Polen Capital Management LLC raised its stake in shares of Automatic Data Processing by 2.3% in the third quarter. Polen Capital Management LLC now owns 6,813,929 shares of the business services provider’s stock worth $744,899,000 after purchasing an additional 152,027 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Automatic Data Processing by 2.9% in the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock worth $696,182,000 after purchasing an additional 190,717 shares during the last quarter. 78.70% of the stock is owned by institutional investors and hedge funds.

Shares of Automatic Data Processing (ADP) opened at $111.43 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. Automatic Data Processing has a 1-year low of $95.50 and a 1-year high of $125.24. The company has a market capitalization of $49,393.57, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 2.47 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company earned $0.87 earnings per share. Automatic Data Processing’s quarterly revenue was up 8.3% compared to the same quarter last year. equities research analysts anticipate that Automatic Data Processing will post 4.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s payout ratio is currently 65.45%.

ADP has been the subject of several recent research reports. Citigroup reiterated a “neutral” rating and set a $118.00 price target (up from $110.00) on shares of Automatic Data Processing in a research report on Friday, January 12th. BMO Capital Markets reduced their price target on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating for the company in a research report on Thursday, February 1st. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. BidaskClub cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Finally, Stifel Nicolaus lifted their price target on Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a research report on Thursday, February 1st. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $118.43.

In other news, insider Michael A. Bonarti sold 3,900 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $452,517.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stuart Sackman sold 238 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $121.65, for a total value of $28,952.70. Following the completion of the sale, the vice president now directly owns 18,676 shares in the company, valued at $2,271,935.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 149,767 shares of company stock worth $17,801,722. 0.25% of the stock is owned by corporate insiders.

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

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