Automatic Data Processing (ADP) Position Lowered by Exxonmobil Investment Management Inc. TX

Exxonmobil Investment Management Inc. TX cut its holdings in Automatic Data Processing (NASDAQ:ADP) by 13.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 70,517 shares of the business services provider’s stock after selling 10,632 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Automatic Data Processing were worth $8,264,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC boosted its stake in 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 valued at $111,000 after buying an additional 17 shares in the last quarter. Northwest Quadrant Wealth Management LLC boosted its stake in Automatic Data Processing by 0.5% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock valued at $458,000 after buying an additional 21 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in Automatic Data Processing by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 3,463 shares of the business services provider’s stock valued at $355,000 after buying an additional 25 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Automatic Data Processing by 0.5% during the second quarter. Savant Capital LLC now owns 4,729 shares of the business services provider’s stock valued at $484,000 after purchasing an additional 25 shares in the last quarter. Finally, PagnatoKarp Partners LLC boosted its stake in shares of Automatic Data Processing by 1.1% during the second quarter. PagnatoKarp Partners LLC now owns 2,643 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 29 shares in the last quarter. 78.67% of the stock is currently owned by institutional investors and hedge funds.

ADP has been the topic of a number of recent research reports. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Morgan Stanley raised Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target on the stock in a research note on Tuesday, November 14th. Sanford C. Bernstein lifted their price target on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Finally, Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.02 to $135.00 in a research note on Monday, December 11th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $114.64.

Automatic Data Processing (ADP) opened at $118.76 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $52,670.00, a P/E ratio of 30.14, a P/E/G ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 12 month low of $94.11 and a 12 month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. analysts predict that Automatic Data Processing will post 3.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were paid a $0.63 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, December 7th. Automatic Data Processing’s payout ratio is currently 63.96%.

In other Automatic Data Processing news, VP Donald Weinstein sold 2,275 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $263,968.25. Following the completion of the sale, the vice president now directly owns 27,399 shares in the company, valued at $3,179,105.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $11,307,826.04. Following the completion of the sale, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,619 shares of company stock worth $12,684,290. 0.25% of the stock is owned by insiders.

WARNING: This piece of content was reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.com-unik.info/2018/01/10/automatic-data-processing-adp-position-lowered-by-exxonmobil-investment-management-inc-tx.html.

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.

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).

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

What are top analysts saying about Automatic Data Processing? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Automatic Data Processing and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit