Cadence Capital Management LLC Sells 4,351 Shares of Automatic Data Processing (ADP)

Cadence Capital Management LLC cut its stake in Automatic Data Processing (NASDAQ:ADP) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,451 shares of the business services provider’s stock after selling 4,351 shares during the period. Cadence Capital Management LLC’s holdings in Automatic Data Processing were worth $5,297,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ADP. Vanguard Group Inc. lifted its holdings in Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after buying an additional 811,960 shares during the last quarter. BlackRock Inc. lifted its holdings in Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after buying an additional 237,439 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Automatic Data Processing by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock worth $696,182,000 after buying an additional 190,717 shares during the last quarter. Polen Capital Management LLC lifted its holdings in Automatic Data Processing by 6.6% during the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock worth $682,578,000 after buying an additional 411,369 shares during the last quarter. Finally, Fundsmith LLP lifted its holdings in Automatic Data Processing by 29.0% during the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after buying an additional 1,164,972 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

A number of analysts have issued reports on the company. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Bank of America lifted their price target on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Goldman Sachs Group upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.02 to $135.00 in a research report on Monday, December 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $108.00 target price on shares of Automatic Data Processing in a research report on Wednesday, October 4th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $114.14.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $116.88 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The company has a market capitalization of $51,840.00, a PE ratio of 29.66, a PEG ratio of 2.91 and a beta of 0.86.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 7th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is 63.96%.

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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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