Automatic Data Processing (NASDAQ:ADP) Shares Sold by Cypress Wealth Services LLC

Cypress Wealth Services LLC lessened its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 1.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,850 shares of the business services provider’s stock after selling 140 shares during the period. Cypress Wealth Services LLC’s holdings in Automatic Data Processing were worth $1,850,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Automatic Data Processing by 1.7% in the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock valued at $6,318,005,000 after purchasing an additional 644,178 shares during the period. BlackRock Inc. increased its holdings in shares of Automatic Data Processing by 1.2% in the second quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock valued at $5,117,899,000 after purchasing an additional 368,108 shares during the period. State Street Corp increased its holdings in shares of Automatic Data Processing by 0.4% in the third quarter. State Street Corp now owns 19,152,523 shares of the business services provider’s stock valued at $3,106,583,000 after purchasing an additional 66,942 shares during the period. Morgan Stanley increased its holdings in shares of Automatic Data Processing by 6.5% in the second quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock valued at $1,391,241,000 after purchasing an additional 516,484 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Automatic Data Processing by 40,836.2% in the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after purchasing an additional 4,708,009 shares during the period. 80.05% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing stock opened at $172.07 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing has a 1-year low of $130.00 and a 1-year high of $174.50. The company has a market cap of $74.03 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. The stock’s 50 day moving average price is $169.82 and its 200 day moving average price is $165.96.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.01. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $0.91 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.79. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.12%. Automatic Data Processing’s payout ratio is 66.79%.

Automatic Data Processing announced that its board has approved a share buyback program on Tuesday, November 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

ADP has been the topic of a number of recent research reports. ValuEngine raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Moffett Nathanson lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Tuesday, January 7th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Credit Suisse Group reissued a “buy” rating and issued a $185.00 target price on shares of Automatic Data Processing in a report on Monday, November 4th. Finally, Citigroup reissued a “neutral” rating and issued a $185.00 target price (up previously from $170.00) on shares of Automatic Data Processing in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $182.11.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 48,571 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $168.51, for a total transaction of $8,184,699.21. Following the sale, the chief executive officer now directly owns 144,899 shares in the company, valued at $24,416,930.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 2,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.08, for a total value of $340,160.00. Following the sale, the vice president now owns 25,710 shares in the company, valued at $4,372,756.80. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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: Resistance Level

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.