Automatic Data Processing (ADP) Holdings Cut by Syntal Capital Partners LLC
Syntal Capital Partners LLC reduced its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 29.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308 shares of the business services provider’s stock after selling 942 shares during the quarter. Syntal Capital Partners LLC’s holdings in Automatic Data Processing were worth $253,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in ADP. Proficio Capital Partners LLC increased its stake in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Automatic Data Processing in the second quarter valued at about $102,000. Grove Bank & Trust boosted its holdings in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 170 shares during the last quarter. Family Capital Trust Co bought a new position in Automatic Data Processing in the third quarter valued at about $137,000. Finally, San Francisco Sentry Investment Group CA bought a new position in Automatic Data Processing in the second quarter valued at about $136,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.
Several equities analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Friday, September 15th. Citigroup reiterated a “neutral” rating and issued a $110.00 price target (up previously from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Wednesday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $112.37.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Automatic Data Processing’s revenue was up 5.6% compared to the same quarter last year. research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, December 7th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.12%.
Automatic Data Processing Company Profile
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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