Los Angeles Capital Management & Equity Research Inc. Lowers Position in Automatic Data Processing (ADP)

Los Angeles Capital Management & Equity Research Inc. lessened its stake in Automatic Data Processing (NASDAQ:ADP) by 68.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,452 shares of the business services provider’s stock after selling 345,030 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Automatic Data Processing were worth $24,992,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lunia Capital LP raised its holdings in Automatic Data Processing by 14,251.9% during the 4th quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock valued at $18,368,000 after acquiring an additional 18,239,702 shares during the period. Fiera Capital Corp raised its holdings in Automatic Data Processing by 77.3% during the 4th quarter. Fiera Capital Corp now owns 5,287 shares of the business services provider’s stock valued at $693,000 after acquiring an additional 2,305 shares during the period. Stifel Financial Corp raised its holdings in Automatic Data Processing by 7.3% during the 4th quarter. Stifel Financial Corp now owns 664,894 shares of the business services provider’s stock valued at $87,052,000 after acquiring an additional 45,318 shares during the period. Thrivent Financial for Lutherans raised its holdings in Automatic Data Processing by 0.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 330,189 shares of the business services provider’s stock valued at $43,385,000 after acquiring an additional 1,376 shares during the period. Finally, Doyle Wealth Management bought a new stake in Automatic Data Processing during the 4th quarter valued at $148,000. 80.50% of the stock is currently owned by institutional investors.

A number of brokerages have issued reports on ADP. Zacks Investment Research reissued a “buy” rating and set a $146.00 target price on shares of Automatic Data Processing in a report on Monday, December 31st. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $153.43.

In other news, VP Stuart Sackman sold 1,478 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $155.13, for a total value of $229,282.14. Following the transaction, the vice president now owns 24,122 shares of the company’s stock, valued at $3,742,045.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jan Siegmund sold 27,272 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the completion of the transaction, the insider now directly owns 77,595 shares in the company, valued at approximately $12,803,175. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,578 shares of company stock worth $17,078,216. Insiders own 0.33% of the company’s stock.

Automatic Data Processing stock opened at $163.70 on Monday. The firm has a market capitalization of $71.31 billion, a PE ratio of 37.63, a PEG ratio of 2.34 and a beta of 0.96. Automatic Data Processing has a fifty-two week low of $112.58 and a fifty-two week high of $165.50. 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 released its quarterly earnings results on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.16. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, sell-side analysts anticipate that Automatic Data Processing will post 5.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s payout ratio is currently 72.64%.

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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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