Meyer Handelman Co. lessened its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.5% during the 4th quarter, Holdings Channel reports. The fund owned 101,834 shares of the business services provider’s stock after selling 500 shares during the quarter. Meyer Handelman Co.’s holdings in Automatic Data Processing were worth $11,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Cedar Capital LLC purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at $254,000. Intl Fcstone Inc. purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at $1,699,000. AMP Capital Investors Ltd lifted its stake in shares of Automatic Data Processing by 20.0% during the 3rd quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock valued at $33,636,000 after buying an additional 51,252 shares in the last quarter. AHL Partners LLP lifted its stake in shares of Automatic Data Processing by 37.3% during the 2nd quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock valued at $11,243,000 after buying an additional 29,836 shares in the last quarter. Finally, Fundsmith LLP increased its holdings in Automatic Data Processing by 29.0% in the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after acquiring an additional 1,164,972 shares during the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.
In related news, VP Donald Weinstein sold 3,242 shares of Automatic Data Processing stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $125.00, for a total transaction of $405,250.00. Following the completion of the transaction, the vice president now directly owns 28,366 shares of the company’s stock, valued at approximately $3,545,750. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the transaction, the chief executive officer now directly owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,767 shares of company stock worth $17,801,722. Insiders own 0.25% of the company’s stock.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the firm posted $0.87 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. research analysts anticipate that Automatic Data Processing will post 4.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.45%.
A number of brokerages have issued reports on ADP. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a report on Thursday, February 1st. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. BMO Capital Markets reduced their price target on shares of Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Barclays lifted their price target on shares of Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Finally, BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $118.43.
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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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