Automatic Data Processing (ADP) Holdings Cut by Fayerweather Charles

Fayerweather Charles lessened its position in shares of Automatic Data Processing (NASDAQ:ADP) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,290 shares of the business services provider’s stock after selling 736 shares during the period. Automatic Data Processing makes up 3.9% of Fayerweather Charles’ portfolio, making the stock its 5th biggest position. Fayerweather Charles’ holdings in Automatic Data Processing were worth $2,982,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Proficio Capital Partners LLC boosted its position in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares during the period. Acrospire Investment Management LLC purchased a new stake in shares of Automatic Data Processing in the second quarter worth about $102,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Automatic Data Processing in the first quarter worth about $113,000. Grove Bank & Trust boosted its position in shares of Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after buying an additional 170 shares during the period. Finally, Family Capital Trust Co purchased a new stake in shares of Automatic Data Processing in the third quarter worth about $137,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

ADP has been the subject of several analyst reports. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. BMO Capital Markets decreased their target price on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Bank of America upped their target price on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Barclays reaffirmed an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $110.00 target price (up previously from $98.00) on shares of Automatic Data Processing in a research report on Thursday, August 17th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $112.37.

Automatic Data Processing (NASDAQ ADP) opened at $115.68 on Wednesday. The company has a market capitalization of $50,917.05, a PE ratio of 30.70, a P/E/G ratio of 2.94 and a beta of 0.85. Automatic Data Processing has a 1-year low of $94.11 and a 1-year high of $121.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. Automatic Data Processing’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. equities analysts forecast that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a yield of 2.18%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is currently 58.02%.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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