Taylor Cottrill Erickson & Associates Inc. Has $2.74 Million Holdings in Automatic Data Processing (ADP)

Taylor Cottrill Erickson & Associates Inc. cut its stake in Automatic Data Processing (NASDAQ:ADP) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,877 shares of the business services provider’s stock after selling 875 shares during the quarter. Taylor Cottrill Erickson & Associates Inc.’s holdings in Automatic Data Processing were worth $2,737,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ADP. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after buying an additional 425,007 shares during the period. Vanguard Group Inc raised its stake in shares of Automatic Data Processing by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after buying an additional 425,007 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Automatic Data Processing by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,605,668 shares of the business services provider’s stock worth $1,447,190,000 after buying an additional 121,162 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Automatic Data Processing by 213.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock worth $1,301,682,000 after buying an additional 5,880,242 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Automatic Data Processing by 36.3% during the 3rd quarter. Deutsche Bank AG now owns 2,546,248 shares of the business services provider’s stock worth $383,612,000 after buying an additional 678,657 shares during the period. 77.82% of the stock is owned by institutional investors.

NASDAQ ADP opened at $141.62 on Friday. Automatic Data Processing has a one year low of $107.61 and a one year high of $153.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $61.99 billion, a P/E ratio of 32.56, a PEG ratio of 2.07 and a beta of 0.92.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.16. Automatic Data Processing had a return on equity of 54.18% and a net margin of 13.12%. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Automatic Data Processing will post 5.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.

ADP has been the subject of several research analyst reports. Barclays initiated coverage on Automatic Data Processing in a research note on Wednesday, November 14th. They set an “overweight” rating and a $168.00 target price for the company. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Jefferies Financial Group upped their target price on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a research note on Thursday, November 1st. Citigroup upped their target price on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, November 1st. Finally, BMO Capital Markets reduced their target price on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $151.87.

In other Automatic Data Processing news, Director John P. Jones III sold 5,688 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $129.45, for a total value of $736,311.60. Following the completion of the sale, the director now directly owns 57,430 shares in the company, valued at approximately $7,434,313.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brock Albinson sold 4,389 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $129.00, for a total value of $566,181.00. Following the completion of the sale, the vice president now owns 8,144 shares of the company’s stock, valued at $1,050,576. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,837 shares of company stock valued at $29,024,577. 0.33% of the stock is owned by corporate insiders.

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About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Read More: Benefits of owning preferred stock

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

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