Stanley Laman Group Ltd. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,493 shares of the business services provider’s stock after acquiring an additional 392 shares during the period. Stanley Laman Group Ltd.’s holdings in Automatic Data Processing were worth $2,730,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NEXT Financial Group Inc bought a new stake in Automatic Data Processing in the third quarter valued at approximately $144,000. Syntal Capital Partners LLC raised its stake in Automatic Data Processing by 34.8% in the third quarter. Syntal Capital Partners LLC now owns 8,029 shares of the business services provider’s stock valued at $1,119,000 after buying an additional 2,072 shares during the period. Prestige Wealth Management Group LLC raised its stake in Automatic Data Processing by 3.8% in the third quarter. Prestige Wealth Management Group LLC now owns 6,323 shares of the business services provider’s stock valued at $882,000 after buying an additional 232 shares during the period. Landsberg Bennett & Dubbaneh LLC raised its stake in Automatic Data Processing by 17.2% in the third quarter. Landsberg Bennett & Dubbaneh LLC now owns 2,498 shares of the business services provider’s stock valued at $344,000 after buying an additional 366 shares during the period. Finally, Lighthouse Financial Advisors Inc. raised its stake in Automatic Data Processing by 3.5% in the third quarter. Lighthouse Financial Advisors Inc. now owns 15,016 shares of the business services provider’s stock valued at $2,095,000 after buying an additional 502 shares during the period. Institutional investors and hedge funds own 79.65% of the company’s stock.
Several research firms have issued reports on ADP. BMO Capital Markets upped their price objective on Automatic Data Processing from $149.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, October 29th. Mizuho initiated coverage on Automatic Data Processing in a research note on Wednesday, February 10th. They issued a “buy” rating and a $210.00 price objective on the stock. Citigroup upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $190.00 in a research note on Friday, January 29th. Credit Suisse Group increased their target price on Automatic Data Processing from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, November 9th. Finally, Jefferies Financial Group increased their target price on Automatic Data Processing from $135.00 to $168.00 and gave the stock a “hold” rating in a research note on Wednesday, October 28th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $166.65.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Tuesday, January 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.23. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.57 billion. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 5.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Friday, March 12th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.84%.
In related news, VP Brock Albinson sold 2,151 shares of the firm’s stock in a transaction on Monday, January 4th. The stock was sold at an average price of $175.97, for a total transaction of $378,511.47. Following the sale, the vice president now owns 38,685 shares of the company’s stock, valued at approximately $6,807,399.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Deborah L. Dyson sold 600 shares of the firm’s stock in a transaction on Monday, January 11th. The shares were sold at an average price of $170.93, for a total value of $102,558.00. Following the sale, the vice president now directly owns 24,786 shares in the company, valued at approximately $4,236,670.98. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
About Automatic Data Processing
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
Read More: Moving Average Convergence Divergence (MACD)
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, Inc. (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.