Lowe Brockenbrough & Co. Inc. lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,730 shares of the business services provider’s stock after selling 285 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Automatic Data Processing were worth $3,111,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. PagnatoKarp Partners LLC boosted its holdings in shares of Automatic Data Processing by 2.5% in the fourth quarter. PagnatoKarp Partners LLC now owns 2,879 shares of the business services provider’s stock valued at $380,000 after acquiring an additional 70 shares during the period. Capital Advisors Inc. OK increased its position in Automatic Data Processing by 2.1% during the 4th quarter. Capital Advisors Inc. OK now owns 3,701 shares of the business services provider’s stock worth $485,000 after purchasing an additional 75 shares in the last quarter. Sandy Spring Bank increased its position in Automatic Data Processing by 0.3% during the 4th quarter. Sandy Spring Bank now owns 22,850 shares of the business services provider’s stock worth $2,996,000 after purchasing an additional 78 shares in the last quarter. Cozad Asset Management Inc. increased its position in Automatic Data Processing by 1.8% during the 4th quarter. Cozad Asset Management Inc. now owns 4,570 shares of the business services provider’s stock worth $599,000 after purchasing an additional 81 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in Automatic Data Processing by 1.9% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,517 shares of the business services provider’s stock worth $593,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Separately, Zacks Investment Research upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Automatic Data Processing presently has an average rating of “Buy” and an average price target of $151.87.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.18 by $0.16. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations 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 revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Equities research analysts anticipate that Automatic Data Processing will post 5.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.
In related news, VP Brock Albinson sold 4,389 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $129.00, for a total transaction of $566,181.00. Following the transaction, the vice president now directly owns 8,144 shares of the company’s stock, valued at approximately $1,050,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stuart Sackman sold 1,478 shares of the business’s stock in a transaction that occurred on 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 $3,742,045.86. The disclosure for this sale can be found here. Insiders sold a total of 121,589 shares of company stock valued at $17,276,746 in the last 90 days. 0.33% of the stock is owned by company insiders.
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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