Bessemer Group Inc. Has $236.96 Million Position in Automatic Data Processing (ADP)

Bessemer Group Inc. cut its holdings in Automatic Data Processing (NASDAQ:ADP) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,572,797 shares of the business services provider’s stock after selling 244,362 shares during the period. Bessemer Group Inc. owned 0.36% of Automatic Data Processing worth $236,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADP. Atria Investments LLC boosted its holdings in Automatic Data Processing by 1.3% in the 3rd quarter. Atria Investments LLC now owns 27,201 shares of the business services provider’s stock valued at $4,098,000 after purchasing an additional 350 shares during the period. Spearhead Capital Advisors LLC boosted its holdings in Automatic Data Processing by 0.8% in the 3rd quarter. Spearhead Capital Advisors LLC now owns 47,246 shares of the business services provider’s stock valued at $7,054,000 after purchasing an additional 373 shares during the period. First Midwest Bank Trust Division boosted its holdings in Automatic Data Processing by 5.1% in the 2nd quarter. First Midwest Bank Trust Division now owns 7,859 shares of the business services provider’s stock valued at $1,054,000 after purchasing an additional 380 shares during the period. Arizona State Retirement System boosted its holdings in Automatic Data Processing by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 108,581 shares of the business services provider’s stock valued at $16,359,000 after purchasing an additional 383 shares during the period. Finally, Windward Capital Management Co. CA boosted its holdings in Automatic Data Processing by 2.0% in the 3rd quarter. Windward Capital Management Co. CA now owns 19,624 shares of the business services provider’s stock valued at $2,957,000 after purchasing an additional 389 shares during the period. 77.94% of the stock is owned by institutional investors.

Several research analysts have commented on ADP shares. Wolfe Research started coverage on shares of Automatic Data Processing in a report on Tuesday, July 17th. They issued an “outperform” rating for the company. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Credit Suisse Group began coverage on shares of Automatic Data Processing in a research report on Friday, August 10th. They set an “outperform” rating and a $160.00 price objective on the stock. Argus raised their price objective on shares of Automatic Data Processing from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Buy” and a consensus target price of $148.69.

In related news, VP Michael C. Eberhard sold 9,100 shares of Automatic Data Processing stock in a transaction on Friday, September 21st. The shares were sold at an average price of $150.00, for a total value of $1,365,000.00. Following the transaction, the vice president now owns 48,468 shares in the company, valued at approximately $7,270,200. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brock Albinson sold 3,345 shares of Automatic Data Processing stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the transaction, the vice president now owns 6,081 shares in the company, valued at approximately $877,792.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,539 shares of company stock worth $17,336,818. 0.33% of the stock is owned by corporate insiders.

Automatic Data Processing stock opened at $147.19 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $64.92 billion, a PE ratio of 33.84, a P/E/G ratio of 2.26 and a beta of 0.91. 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 posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.09. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. As a group, equities analysts forecast 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. Investors of record on Friday, December 14th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.45%.

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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.

See Also: Cost of Debt

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

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