Howland Capital Management LLC cut its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,301 shares of the business services provider’s stock after selling 5,165 shares during the period. Howland Capital Management LLC’s holdings in Automatic Data Processing were worth $10,200,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. OppenheimerFunds Inc. raised its holdings in Automatic Data Processing by 4.4% in the first quarter. OppenheimerFunds Inc. now owns 14,524 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 618 shares in the last quarter. TLP Group LLC bought a new stake in Automatic Data Processing in the 1st quarter worth about $385,000. Principal Financial Group Inc. increased its holdings in Automatic Data Processing by 5.7% in the 1st quarter. Principal Financial Group Inc. now owns 684,133 shares of the business services provider’s stock worth $70,048,000 after buying an additional 37,045 shares in the last quarter. FMR LLC increased its holdings in Automatic Data Processing by 10.5% in the 1st quarter. FMR LLC now owns 859,772 shares of the business services provider’s stock worth $88,032,000 after buying an additional 81,527 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in Automatic Data Processing by 16.0% in the first quarter. Teachers Advisors LLC now owns 1,230,596 shares of the business services provider’s stock worth $126,001,000 after purchasing an additional 169,350 shares during the last quarter. Institutional investors own 78.67% of the company’s stock.
Several research analysts have issued reports on ADP shares. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Morgan Stanley raised Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective on the stock in a research report on Tuesday, November 14th. Sanford C. Bernstein lifted their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Finally, Barclays lifted their price objective on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $114.14.
Automatic Data Processing (ADP) traded down $1.20 on Tuesday, reaching $115.99. The company had a trading volume of 2,453,008 shares, compared to its average volume of 1,734,600. Automatic Data Processing has a one year low of $94.11 and a one year high of $121.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The stock has a market cap of $51,440.00, a PE ratio of 29.44, a P/E/G ratio of 2.90 and a beta of 0.86.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the business earned $0.86 EPS. Automatic Data Processing’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is currently 63.96%.
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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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