Fenimore Asset Management Inc. cut its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 6.2% in the 4th quarter, Holdings Channel reports. The fund owned 2,270 shares of the business services provider’s stock after selling 150 shares during the quarter. Fenimore Asset Management Inc.’s holdings in Automatic Data Processing were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of ADP. Cerebellum GP LLC raised its stake in Automatic Data Processing by 1,376.9% during the 4th quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 179 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $37,000. Atlantic Trust LLC purchased a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $104,000. Willingdon Wealth Management raised its stake in Automatic Data Processing by 328.5% during the 3rd quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 657 shares during the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in Automatic Data Processing during the 3rd quarter valued at approximately $136,000. 77.89% of the stock is owned by hedge funds and other institutional investors.
ADP has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Automatic Data Processing in a research note on Monday, October 1st. They set a “hold” rating and a $160.00 target price for the company. Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Moffett Nathanson initiated coverage on Automatic Data Processing in a research note on Thursday, October 4th. They set a “buy” rating and a $180.00 target price for the company. Barclays initiated coverage on Automatic Data Processing in a research note on Wednesday, November 14th. They set an “overweight” rating and a $168.00 target price for the company. Finally, BMO Capital Markets cut their target price on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $151.87.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.09. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the business posted $0.94 EPS. Automatic Data Processing’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing will post 5.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Friday, December 14th were paid a $0.79 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 72.64%.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 62,228 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $145.59, for a total transaction of $9,059,774.52. Following the sale, the chief executive officer now owns 137,177 shares in the company, valued at approximately $19,971,599.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brock Albinson sold 4,389 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $129.00, for a total value of $566,181.00. Following the sale, the vice president now owns 8,144 shares in the company, valued at approximately $1,050,576. The disclosure for this sale can be found here. Insiders sold a total of 198,716 shares of company stock valued at $28,606,425 over the last ninety days. 0.33% of the stock is currently owned by company insiders.
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Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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