Automatic Data Processing (NASDAQ:ADP) Shares Bought by Intellectus Partners LLC

Intellectus Partners LLC raised its holdings in Automatic Data Processing (NASDAQ:ADP) by 61.7% in the fourth quarter, Holdings Channel reports. The fund owned 5,648 shares of the business services provider’s stock after buying an additional 2,156 shares during the period. Intellectus Partners LLC’s holdings in Automatic Data Processing were worth $966,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ADP. Moors & Cabot Inc. increased its holdings in Automatic Data Processing by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 7,192 shares of the business services provider’s stock valued at $1,161,000 after purchasing an additional 63 shares during the last quarter. Cleararc Capital Inc. increased its holdings in Automatic Data Processing by 1.0% in the 3rd quarter. Cleararc Capital Inc. now owns 6,539 shares of the business services provider’s stock valued at $1,056,000 after purchasing an additional 64 shares during the last quarter. Good Life Advisors LLC increased its holdings in Automatic Data Processing by 3.0% in the 4th quarter. Good Life Advisors LLC now owns 2,304 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 68 shares during the last quarter. We Are One Seven LLC increased its holdings in Automatic Data Processing by 2.9% in the 3rd quarter. We Are One Seven LLC now owns 2,592 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 74 shares during the last quarter. Finally, Sheets Smith Wealth Management increased its holdings in Automatic Data Processing by 1.1% in the 3rd quarter. Sheets Smith Wealth Management now owns 7,245 shares of the business services provider’s stock valued at $1,169,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.

Several analysts recently weighed in on the stock. ValuEngine upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday. Moffett Nathanson downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Tuesday, January 7th. Wolfe Research downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $185.00 target price on shares of Automatic Data Processing in a report on Monday, November 4th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $185.70.

In other news, CEO Carlos A. Rodriguez sold 48,571 shares of Automatic Data Processing stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $168.51, for a total transaction of $8,184,699.21. Following the completion of the sale, the chief executive officer now directly owns 144,899 shares of the company’s stock, valued at approximately $24,416,930.49. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Donald Weinstein sold 2,000 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.08, for a total transaction of $340,160.00. Following the sale, the vice president now directly owns 25,710 shares of the company’s stock, valued at $4,372,756.80. The disclosure for this sale can be found here. Insiders sold a total of 57,381 shares of company stock valued at $9,722,333 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

ADP stock traded down $0.88 during midday trading on Friday, hitting $176.95. The company’s stock had a trading volume of 515,134 shares, compared to its average volume of 1,374,729. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. Automatic Data Processing has a 52-week low of $133.76 and a 52-week high of $179.89. The firm has a market capitalization of $77.16 billion, a P/E ratio of 32.59, a PEG ratio of 2.23 and a beta of 0.86. The firm has a 50-day simple moving average of $170.96 and a 200-day simple moving average of $166.54.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.01. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the company posted $1.20 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts expect that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a $0.91 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $3.64 annualized dividend and a yield of 2.06%. Automatic Data Processing’s dividend payout ratio is presently 66.79%.

Automatic Data Processing announced that its board has initiated a stock buyback program on Tuesday, November 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.

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

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