Border to Coast Pensions Partnership Ltd lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 62.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,848 shares of the business services provider's stock after selling 161,977 shares during the period. Border to Coast Pensions Partnership Ltd's holdings in Automatic Data Processing were worth $22,358,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in ADP. Harbor Investment Advisory LLC lifted its stake in shares of Automatic Data Processing by 1.0% in the 3rd quarter. Harbor Investment Advisory LLC now owns 4,164 shares of the business services provider's stock valued at $942,000 after purchasing an additional 41 shares during the period. Congress Wealth Management LLC DE increased its position in Automatic Data Processing by 0.6% during the 2nd quarter. Congress Wealth Management LLC DE now owns 6,707 shares of the business services provider's stock valued at $1,408,000 after buying an additional 43 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Automatic Data Processing by 0.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 5,955 shares of the business services provider's stock valued at $1,251,000 after buying an additional 44 shares in the last quarter. Well Done LLC increased its position in Automatic Data Processing by 3.1% during the 3rd quarter. Well Done LLC now owns 1,545 shares of the business services provider's stock valued at $349,000 after buying an additional 46 shares in the last quarter. Finally, Tradewinds LLC. increased its position in Automatic Data Processing by 1.8% during the 3rd quarter. Tradewinds LLC. now owns 2,574 shares of the business services provider's stock valued at $582,000 after buying an additional 46 shares in the last quarter. Institutional investors own 79.24% of the company's stock.
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Insider Activity at Automatic Data Processing
In related news, VP Donald Weinstein sold 5,075 shares of Automatic Data Processing stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total transaction of $1,243,375.00. Following the transaction, the vice president now directly owns 32,950 shares in the company, valued at $8,072,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Donald Weinstein sold 5,075 shares of Automatic Data Processing stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total transaction of $1,243,375.00. Following the transaction, the vice president now directly owns 32,950 shares in the company, valued at $8,072,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carlos A. Rodriguez sold 37,594 shares of Automatic Data Processing stock in a transaction on Monday, January 9th. The shares were sold at an average price of $241.29, for a total value of $9,071,056.26. Following the transaction, the insider now owns 44,481 shares in the company, valued at $10,732,820.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,350 shares of company stock worth $25,301,670. Corporate insiders own 0.33% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on ADP. Cowen raised their price objective on Automatic Data Processing to $237.00 in a research report on Thursday, October 27th. Mizuho reduced their price objective on Automatic Data Processing from $285.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, January 26th. Morgan Stanley raised their price objective on Automatic Data Processing from $245.00 to $250.00 and gave the company an "equal weight" rating in a research report on Thursday, October 27th. Robert W. Baird lifted their target price on Automatic Data Processing to $251.00 in a report on Tuesday, November 1st. Finally, JPMorgan Chase & Co. reduced their target price on Automatic Data Processing from $253.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $243.50.
Automatic Data Processing Stock Performance
Shares of ADP stock traded down $2.41 on Wednesday, reaching $223.40. The stock had a trading volume of 219,453 shares, compared to its average volume of 2,067,498. The stock has a market cap of $92.67 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 2.28 and a beta of 0.85. Automatic Data Processing, Inc. has a 1 year low of $192.26 and a 1 year high of $274.92. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 0.99. The company has a 50 day simple moving average of $245.95 and a 200 day simple moving average of $241.99.
Automatic Data Processing (NASDAQ:ADP – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.39 billion. Automatic Data Processing had a return on equity of 96.94% and a net margin of 18.24%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 8.12 EPS for the current year.
Automatic Data Processing Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, March 9th. This represents a $5.00 annualized dividend and a yield of 2.24%. Automatic Data Processing's dividend payout ratio (DPR) is presently 66.40%.
About Automatic Data Processing
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Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.
Further Reading
- Get a free copy of the StockNews.com research report on Automatic Data Processing (ADP)
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