Raymond James & Associates cut its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 10.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 447,939 shares of the business services provider’s stock after selling 51,899 shares during the quarter. Raymond James & Associates’ holdings in Automatic Data Processing were worth $52,494,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. HBK Investments L P increased its holdings in Automatic Data Processing by 360.6% during the 4th quarter. HBK Investments L P now owns 198,986 shares of the business services provider’s stock worth $23,319,000 after purchasing an additional 155,786 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $53,372,000. Premia Global Advisors LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $648,000. Ellington Management Group LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $773,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Automatic Data Processing by 16.5% in the 4th quarter. Jones Financial Companies Lllp now owns 3,561 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 504 shares during the last quarter. Institutional investors own 78.57% of the company’s stock.
Automatic Data Processing (ADP) opened at $117.39 on Wednesday. Automatic Data Processing has a 12-month low of $95.50 and a 12-month high of $125.24. The stock has a market capitalization of $52,097.48, a P/E ratio of 30.45, a P/E/G ratio of 2.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. Automatic Data Processing’s dividend payout ratio is currently 65.45%.
In related news, VP Donald Weinstein sold 2,275 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $263,968.25. Following the completion of the transaction, the vice president now owns 27,399 shares in the company, valued at approximately $3,179,105.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total value of $7,848,958.71. Following the transaction, the chief executive officer now owns 161,085 shares of the company’s stock, valued at approximately $18,088,234.65. The disclosure for this sale can be found here. Insiders have sold a total of 219,666 shares of company stock valued at $25,650,681 in the last 90 days. Insiders own 0.25% of the company’s stock.
ADP has been the subject of a number of research analyst reports. Citigroup reiterated a “neutral” rating and issued a $118.00 price target (up from $110.00) on shares of Automatic Data Processing in a report on Friday, January 12th. BMO Capital Markets lowered their price target on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. BidaskClub downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a report 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. The stock has a consensus rating of “Hold” and an average price target of $118.43.
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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