Jaffetilchin Investment Partners LLC cut its stake in Automatic Data Processing (NASDAQ:ADP) by 6.9% in the first quarter, Holdings Channel reports. The institutional investor owned 3,809 shares of the business services provider’s stock after selling 282 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Automatic Data Processing were worth $609,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of ADP. Vanguard Group Inc increased its position in shares of Automatic Data Processing by 1.2% during the third quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after buying an additional 425,007 shares during the period. Cambridge Trust Co. increased its position in shares of Automatic Data Processing by 0.5% during the fourth quarter. Cambridge Trust Co. now owns 94,367 shares of the business services provider’s stock worth $12,374,000 after buying an additional 476 shares during the period. Schmidt P J Investment Management Inc. increased its position in shares of Automatic Data Processing by 4.3% during the fourth quarter. Schmidt P J Investment Management Inc. now owns 30,563 shares of the business services provider’s stock worth $4,007,000 after buying an additional 1,265 shares during the period. Roman Butler Fullerton & Co. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $512,000. Finally, Hamilton Point Investment Advisors LLC increased its position in shares of Automatic Data Processing by 4.4% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 38,807 shares of the business services provider’s stock worth $5,119,000 after buying an additional 1,653 shares during the period. Institutional investors own 79.79% of the company’s stock.
In other Automatic Data Processing news, insider Jan Siegmund sold 27,272 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the transaction, the insider now directly owns 77,595 shares of the company’s stock, valued at $12,803,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald Weinstein sold 1,706 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total transaction of $281,507.06. Following the completion of the transaction, the vice president now directly owns 26,220 shares in the company, valued at $4,326,562.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
Several equities research analysts have recently weighed in on the stock. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Barclays raised their price target on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, Citigroup raised their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $166.89.
NASDAQ:ADP opened at $164.45 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $71.91 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 2.34 and a beta of 0.92. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $168.87.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.57 earnings per share. As a group, research analysts anticipate that Automatic Data Processing will post 5.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.
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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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