Automatic Data Processing (ADP) Stake Lowered by Stack Financial Management Inc

Stack Financial Management Inc trimmed its position in shares of Automatic Data Processing (NASDAQ:ADP) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,820 shares of the business services provider’s stock after selling 9,068 shares during the quarter. Automatic Data Processing makes up 3.4% of Stack Financial Management Inc’s holdings, making the stock its 6th biggest holding. Stack Financial Management Inc’s holdings in Automatic Data Processing were worth $31,461,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Atlantic Trust LLC acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $104,000. Integrated Investment Consultants LLC acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $111,000. Jolley Asset Management LLC acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $117,000. Fort L.P. acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $119,000. Finally, Willingdon Wealth Management lifted its stake in shares of Automatic Data Processing by 328.5% in the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock worth $129,000 after acquiring an additional 657 shares during the period. 77.94% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on ADP. Jefferies Financial Group lifted their price objective on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a research note on Thursday, November 1st. BMO Capital Markets cut their price objective on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. Citigroup lifted their price objective on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Moffett Nathanson began coverage on Automatic Data Processing in a research note on Thursday, October 4th. They issued a “buy” rating and a $180.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $148.69.

In other news, VP Don Mcguire sold 1,140 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $145.78, for a total transaction of $166,189.20. Following the completion of the sale, the vice president now owns 6,476 shares in the company, valued at $944,071.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brock Albinson sold 3,345 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total value of $482,850.75. Following the sale, the vice president now owns 6,081 shares of the company’s stock, valued at approximately $877,792.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,919 shares of company stock valued at $2,351,933. 0.33% of the stock is currently owned by corporate insiders.

Shares of ADP stock opened at $148.30 on Thursday. The company has a market capitalization of $63.00 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 2.19 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43. Automatic Data Processing has a fifty-two week low of $107.61 and a fifty-two week high of $153.51.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.09. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. On average, research analysts anticipate that Automatic Data Processing will post 5.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a $0.79 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, December 13th. Automatic Data Processing’s payout ratio is presently 63.45%.

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Automatic Data Processing Company 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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