Automatic Data Processing (ADP) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC trimmed its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,213 shares of the business services provider’s stock after selling 7,735 shares during the quarter. Renaissance Investment Group LLC’s holdings in Automatic Data Processing were worth $3,775,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ADP. Pershing Square Capital Management L.P. lifted its position in shares of Automatic Data Processing by 402.5% in the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after buying an additional 7,047,575 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Automatic Data Processing by 5,962.5% in the 2nd quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock worth $411,260,000 after buying an additional 3,947,657 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Automatic Data Processing by 42,776.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock worth $150,509,000 after buying an additional 1,373,560 shares during the last quarter. Fundsmith LLP lifted its position in Automatic Data Processing by 29.0% in the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after purchasing an additional 1,164,972 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Automatic Data Processing by 671.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock valued at $127,574,000 after purchasing an additional 1,083,799 shares during the last quarter. Institutional investors own 78.67% of the company’s stock.

Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research report on Friday. Sanford C. Bernstein lifted their price objective on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Barclays lifted their price objective on shares of Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, Goldman Sachs Group upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.02 to $135.00 in a research report on Monday, December 11th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $114.64.

Automatic Data Processing (NASDAQ ADP) opened at $118.30 on Friday. The company has a market cap of $52,460.00, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing has a 52 week low of $94.11 and a 52 week high of $121.77.

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

The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were paid a dividend of $0.63 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, December 7th. This represents a $2.52 annualized dividend and a yield of 2.13%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.96%.

In other news, insider Michael A. Bonarti sold 3,900 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $452,517.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the completion of the transaction, the chief executive officer now directly owns 124,722 shares in the company, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,619 shares of company stock worth $12,684,290. 0.25% of the stock is owned by corporate insiders.

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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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