Acima Private Wealth LLC purchased a new stake in Automatic Data Processing (NASDAQ:ADP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,488 shares of the business services provider’s stock, valued at approximately $457,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Cerebellum GP LLC grew its stake in Automatic Data Processing by 1,376.9% in the 4th quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 179 shares during the period. Tributary Capital Management LLC bought a new position in Automatic Data Processing in the 4th quarter valued at $26,000. AlphaMark Advisors LLC grew its stake in Automatic Data Processing by 319.1% in the 4th quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 150 shares during the period. Horan Securities Inc. bought a new position in Automatic Data Processing in the 4th quarter valued at $31,000. Finally, Moody National Bank Trust Division bought a new position in Automatic Data Processing in the 4th quarter valued at $37,000. 78.57% of the stock is owned by institutional investors and hedge funds.
In other Automatic Data Processing news, VP Brock Albinson sold 4,389 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $129.00, for a total value of $566,181.00. Following the completion of the transaction, the vice president now owns 8,144 shares in the company, valued at approximately $1,050,576. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Jones III sold 5,688 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $129.45, for a total value of $736,311.60. Following the completion of the transaction, the director now owns 57,430 shares of the company’s stock, valued at approximately $7,434,313.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,111 shares of company stock valued at $17,047,463. 0.33% of the stock is owned by corporate insiders.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.16. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. On average, equities analysts forecast that Automatic Data Processing will post 5.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a $0.79 dividend. The ex-dividend date is Thursday, March 7th. This represents a $3.16 annualized dividend and a yield of 2.06%. Automatic Data Processing’s dividend payout ratio is currently 72.64%.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Citigroup increased their price target on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. BMO Capital Markets cut their price target on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Jefferies Financial Group increased their price target on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a research note on Thursday, November 1st. Finally, Barclays assumed coverage on Automatic Data Processing in a research note on Wednesday, November 14th. They set an “overweight” rating and a $168.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $151.87.
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About Automatic Data Processing
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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