Teacher Retirement System of Texas Decreases Stake in Automatic Data Processing (ADP)

Teacher Retirement System of Texas cut its holdings in Automatic Data Processing (NASDAQ:ADP) by 43.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 62,057 shares of the business services provider’s stock after selling 48,380 shares during the period. Teacher Retirement System of Texas’ holdings in Automatic Data Processing were worth $8,137,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ADP. Cerebellum GP LLC raised its position in shares of 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 worth $25,000 after buying an additional 179 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $26,000. AlphaMark Advisors LLC raised its holdings in shares of Automatic Data Processing by 319.1% in the 4th quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Lake Point Wealth Management bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $26,000. Finally, Horan Securities Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $31,000. 80.47% of the stock is owned by institutional investors and hedge funds.

Shares of ADP opened at $162.07 on Tuesday. Automatic Data Processing has a 52 week low of $111.78 and a 52 week high of $162.32. The company has a market cap of $69.59 billion, a P/E ratio of 37.26, a P/E/G ratio of 2.29 and a beta of 0.96. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.16. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Automatic Data Processing will post 5.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, March 7th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 72.64%.

Separately, Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $151.87.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,364 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $149.05, for a total value of $5,420,054.20. Following the completion of the sale, the chief executive officer now directly owns 148,842 shares in the company, valued at $22,184,900.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stuart Sackman sold 1,478 shares of Automatic Data Processing stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the sale, the vice president now owns 24,122 shares of the company’s stock, valued at $3,742,045.86. The disclosure for this sale can be found here. Insiders sold 121,589 shares of company stock valued at $17,276,746 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

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

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