180 Wealth Advisors LLC raised its holdings in Automatic Data Processing (NASDAQ:ADP) by 79.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,435 shares of the business services provider’s stock after buying an additional 1,968 shares during the period. 180 Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $766,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of ADP. Moors & Cabot Inc. raised its position in shares of Automatic Data Processing by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 7,192 shares of the business services provider’s stock worth $1,161,000 after purchasing an additional 63 shares during the last quarter. Cleararc Capital Inc. raised its holdings in Automatic Data Processing by 1.0% in the 3rd quarter. Cleararc Capital Inc. now owns 6,539 shares of the business services provider’s stock valued at $1,056,000 after acquiring an additional 64 shares during the last quarter. Good Life Advisors LLC raised its holdings in Automatic Data Processing by 3.0% in the 4th quarter. Good Life Advisors LLC now owns 2,304 shares of the business services provider’s stock valued at $393,000 after acquiring an additional 68 shares during the last quarter. We Are One Seven LLC raised its holdings in Automatic Data Processing by 2.9% in the 3rd quarter. We Are One Seven LLC now owns 2,592 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 74 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in Automatic Data Processing by 1.1% in the 3rd quarter. Sheets Smith Wealth Management now owns 7,245 shares of the business services provider’s stock valued at $1,169,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 80.05% of the company’s stock.
Several brokerages have weighed in on ADP. Wolfe Research downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, December 5th. ValuEngine upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Moffett Nathanson lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 7th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $185.00 price objective on shares of Automatic Data Processing in a report on Monday, November 4th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $182.11.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, March 12th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.79%.
Automatic Data Processing announced that its board has authorized a stock repurchase plan on Tuesday, November 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, VP Donald Weinstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.08, for a total value of $340,160.00. Following the sale, the vice president now directly owns 25,710 shares in the company, valued at approximately $4,372,756.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 48,571 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $168.51, for a total transaction of $8,184,699.21. Following the completion of the sale, the chief executive officer now owns 144,899 shares in the company, valued at $24,416,930.49. The disclosure for this sale can be found here. Insiders have sold 50,897 shares of company stock valued at $8,580,954 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
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.
Featured Story: What are the benefits of a balanced fund?
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.