Rowland & Co. Investment Counsel ADV Lowers Holdings in Automatic Data Processing (ADP)

Rowland & Co. Investment Counsel ADV decreased its stake in Automatic Data Processing (NASDAQ:ADP) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 82,239 shares of the business services provider’s stock after selling 2,035 shares during the period. Automatic Data Processing accounts for 3.8% of Rowland & Co. Investment Counsel ADV’s portfolio, making the stock its 4th biggest position. Rowland & Co. Investment Counsel ADV’s holdings in Automatic Data Processing were worth $9,638,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cedar Capital LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $254,000. Intl Fcstone Inc. acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $1,699,000. AHL Partners LLP boosted its holdings in shares of Automatic Data Processing by 37.3% in the 2nd quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock valued at $11,243,000 after buying an additional 29,836 shares in the last quarter. AMP Capital Investors Ltd boosted its holdings in shares of Automatic Data Processing by 20.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock valued at $33,636,000 after buying an additional 51,252 shares in the last quarter. Finally, Heritage Investors Management Corp boosted its holdings in shares of Automatic Data Processing by 2.3% in the 2nd quarter. Heritage Investors Management Corp now owns 123,641 shares of the business services provider’s stock valued at $12,668,000 after buying an additional 2,795 shares in the last quarter. Institutional investors and hedge funds own 78.67% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ:ADP) traded down $0.47 during trading hours on Thursday, reaching $117.18. 1,157,571 shares of the company were exchanged, compared to its average volume of 2,060,000. The firm has a market cap of $51,970.00, a PE ratio of 29.74, a P/E/G 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 12-month low of $94.11 and a 12-month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last announced 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 during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.86 EPS. analysts anticipate that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is presently 63.96%.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and set a $95.00 price target on shares of Automatic Data Processing in a research note on Friday, September 15th. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Sanford C. Bernstein increased their price target on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $108.00 price target on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $114.64.

In other Automatic Data Processing news, insider Edward B. Flynn III sold 7,886 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $117.74, for a total transaction of $928,497.64. Following the completion of the transaction, the insider now owns 40,522 shares in the company, valued at approximately $4,771,060.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 124,722 shares of the company’s stock, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,505 shares of company stock valued at $13,612,788. 0.25% of the stock is owned by insiders.

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About Automatic Data Processing

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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