Accredited Investors Inc. Acquires 14,350 Shares of Automatic Data Processing (ADP)

Accredited Investors Inc. raised its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 38.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,849 shares of the business services provider’s stock after purchasing an additional 14,350 shares during the period. Automatic Data Processing comprises about 1.5% of Accredited Investors Inc.’s portfolio, making the stock its 18th largest holding. Accredited Investors Inc.’s holdings in Automatic Data Processing were worth $6,798,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Cerebellum GP LLC lifted its holdings in Automatic Data Processing by 1,376.9% in the fourth quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after purchasing an additional 179 shares during the period. AlphaMark Advisors LLC lifted its holdings in Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after purchasing an additional 150 shares during the period. Tributary Capital Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth about $26,000. Horan Securities Inc. acquired a new stake in Automatic Data Processing in the fourth quarter worth about $31,000. Finally, Moody National Bank Trust Division acquired a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

In related news, VP Brock Albinson sold 4,389 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $129.00, for a total value of $566,181.00. Following the transaction, the vice president now owns 8,144 shares in the company, valued at $1,050,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jan Siegmund sold 36,403 shares of the stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $145.02, for a total value of $5,279,163.06. Following the completion of the transaction, the insider now owns 86,726 shares in the company, valued at approximately $12,577,004.52. The disclosure for this sale can be found here. Insiders sold a total of 120,111 shares of company stock worth $17,047,463 in the last quarter. 0.33% of the stock is owned by corporate insiders.

ADP has been the subject of several research analyst reports. Barclays initiated coverage on shares of Automatic Data Processing in a report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 price objective for the company. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, December 17th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $151.87.

NASDAQ ADP opened at $152.84 on Thursday. The stock has a market cap of $66.21 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 2.22 and a beta of 0.96. Automatic Data Processing has a 1 year low of $109.14 and a 1 year high of $154.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.16. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. On average, sell-side analysts expect that Automatic Data Processing will post 5.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s dividend payout ratio is 72.64%.

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Automatic Data Processing Profile

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.

See Also: Buyback For Investors Defined

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

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