Hanson & Doremus Investment Management trimmed its holdings in Automatic Data Processing (NASDAQ:ADP) by 8.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,518 shares of the business services provider’s stock after selling 147 shares during the period. Hanson & Doremus Investment Management’s holdings in Automatic Data Processing were worth $259,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of ADP. Horan Capital Advisors LLC. purchased a new position in Automatic Data Processing during the 3rd quarter worth $31,000. Gradient Investments LLC increased its holdings in Automatic Data Processing by 126.2% during the 3rd quarter. Gradient Investments LLC now owns 276 shares of the business services provider’s stock worth $45,000 after purchasing an additional 154 shares during the period. Penserra Capital Management LLC purchased a new position in Automatic Data Processing during the 3rd quarter worth $48,000. Usca Ria LLC purchased a new position in Automatic Data Processing during the 3rd quarter worth $52,000. Finally, North Star Investment Management Corp. purchased a new position in Automatic Data Processing during the 3rd quarter worth $76,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.
Shares of NASDAQ ADP opened at $174.88 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $74.09 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. The stock’s fifty day simple moving average is $169.94 and its two-hundred day simple moving average is $166.09. Automatic Data Processing has a 12-month low of $132.04 and a 12-month high of $174.94.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. On average, equities analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.79%.
Automatic Data Processing announced that its board has authorized a share buyback program on Tuesday, November 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts have commented on the company. ValuEngine upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Wolfe Research cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. Moffett Nathanson cut Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 7th. Finally, Citigroup increased their target price on Automatic Data Processing from $170.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $182.11.
In other news, VP Donald Weinstein sold 2,000 shares of the firm’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 completion of the sale, the vice president now owns 25,710 shares of the company’s stock, valued at approximately $4,372,756.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 48,571 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $168.51, for a total value of $8,184,699.21. Following the completion of the sale, the chief executive officer now directly owns 144,899 shares of the company’s stock, valued at approximately $24,416,930.49. The disclosure for this sale can be found here. Insiders have sold a total of 50,897 shares of company stock worth $8,580,954 in the last ninety days. Insiders own 0.31% of the company’s stock.
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.
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