BTIM Corp. increased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 697,697 shares of the business services provider’s stock after buying an additional 13,063 shares during the period. Automatic Data Processing accounts for about 1.5% of BTIM Corp.’s portfolio, making the stock its 9th largest holding. BTIM Corp. owned 0.16% of Automatic Data Processing worth $111,450,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in ADP. Oregon Public Employees Retirement Fund boosted its holdings in shares of Automatic Data Processing by 18,918.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock worth $179,000 after buying an additional 23,339,116 shares during the period. Lunia Capital LP boosted its holdings in shares of Automatic Data Processing by 14,251.9% during the 4th quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after buying an additional 18,239,702 shares during the period. JPMorgan Chase & Co. boosted its holdings 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. Norges Bank bought a new stake in shares of Automatic Data Processing during the 4th quarter worth about $522,489,000. Finally, BlackRock Inc. boosted its holdings in shares of Automatic Data Processing by 5.4% during the 4th quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock worth $4,064,239,000 after buying an additional 1,587,214 shares during the period. 80.48% of the stock is owned by institutional investors and hedge funds.
In other news, VP Stuart Sackman sold 1,478 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the sale, the vice president now owns 24,122 shares of the company’s stock, valued at approximately $3,742,045.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jan Siegmund sold 36,403 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $145.02, for a total transaction of $5,279,163.06. Following the sale, the insider now directly owns 86,726 shares of the company’s stock, valued at approximately $12,577,004.52. The disclosure for this sale can be found here. Insiders sold a total of 86,721 shares of company stock valued at $12,714,980 in the last three months. Insiders own 0.33% of the company’s stock.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.16. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.43 billion. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, research analysts forecast that Automatic Data Processing will post 5.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.
Several analysts recently commented on the stock. Zacks Investment Research reaffirmed a “buy” rating and set a $146.00 target price on shares of Automatic Data Processing in a report on Monday, December 31st. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $153.43.
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Automatic Data Processing Company 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.
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