Automatic Data Processing, Inc. (ADP) Shares Sold by Fieldpoint Private Securities LLC
Fieldpoint Private Securities LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 17,026 shares of the business services provider’s stock after selling 400 shares during the period. Automatic Data Processing comprises about 1.2% of Fieldpoint Private Securities LLC’s holdings, making the stock its 14th largest holding. Fieldpoint Private Securities LLC’s holdings in Automatic Data Processing were worth $1,744,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. AHL Partners LLP grew its holdings in shares of Automatic Data Processing by 37.3% during the 2nd quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock worth $11,243,000 after acquiring an additional 29,836 shares during the period. Salem Investment Counselors Inc. boosted its position in shares of Automatic Data Processing by 4.4% in the 2nd quarter. Salem Investment Counselors Inc. now owns 3,545 shares of the business services provider’s stock worth $363,000 after purchasing an additional 149 shares in the last quarter. Guardian Capital LP boosted its position in shares of Automatic Data Processing by 1.6% in the 2nd quarter. Guardian Capital LP now owns 177,087 shares of the business services provider’s stock worth $18,144,000 after purchasing an additional 2,800 shares in the last quarter. Institute for Wealth Management LLC. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $285,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $916,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
Automatic Data Processing, Inc. (NASDAQ ADP) opened at $111.06 on Friday. The stock has a market capitalization of $49,254.00, a P/E ratio of 29.70, a P/E/G ratio of 2.84 and a beta of 0.87. Automatic Data Processing, Inc. has a 12-month low of $93.95 and a 12-month high of $121.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. equities analysts anticipate that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.27%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is presently 58.02%.
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In other news, VP Brock Albinson sold 3,663 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Maria Black sold 631 shares of the stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
A number of analysts have recently commented on ADP shares. BMO Capital Markets reissued an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Robert W. Baird reissued a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Sunday, July 30th. Stifel Nicolaus reissued a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada boosted their price target on Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $112.37.
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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