Leavell Investment Management Inc. reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,337 shares of the business services provider’s stock after selling 645 shares during the period. Leavell Investment Management Inc.’s holdings in Automatic Data Processing were worth $3,265,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC increased its holdings in Automatic Data Processing by 1,376.9% in the fourth quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock valued at $25,000 after buying an additional 179 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at $26,000. AlphaMark Advisors LLC increased its holdings in Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock valued at $26,000 after buying an additional 150 shares during the last quarter. Lake Point Wealth Management purchased a new position in Automatic Data Processing in the fourth quarter valued at $26,000. Finally, Horan Securities Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 80.48% of the company’s stock.
Shares of ADP stock opened at $162.14 on Wednesday. The stock has a market cap of $71.30 billion, a price-to-earnings ratio of 37.27, a PEG ratio of 2.34 and a beta of 0.96. Automatic Data Processing has a 1 year low of $112.58 and a 1 year high of $164.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.16. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. Analysts predict that Automatic Data Processing will post 5.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.
Several equities analysts recently commented on the company. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Automatic Data Processing presently has an average rating of “Buy” and a consensus target price of $153.43.
In related news, VP Maria Black sold 1,614 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $146.61, for a total transaction of $236,628.54. Following the transaction, the vice president now owns 17,691 shares of the company’s stock, valued at $2,593,677.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Stuart Sackman sold 1,478 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $155.13, for a total value of $229,282.14. Following the transaction, the vice president now directly owns 24,122 shares in the company, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,721 shares of company stock worth $12,714,980. Corporate insiders own 0.33% of the company’s stock.
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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