Northstar Investment Advisors LLC Reduces Position in Automatic Data Processing (ADP)
Northstar Investment Advisors LLC reduced its position in shares of Automatic Data Processing (NASDAQ:ADP) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,563 shares of the business services provider’s stock after selling 2,744 shares during the period. Automatic Data Processing accounts for about 3.0% of Northstar Investment Advisors LLC’s holdings, making the stock its 5th biggest position. Northstar Investment Advisors LLC’s holdings in Automatic Data Processing were worth $13,841,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in shares of Automatic Data Processing by 213.1% in the third quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock worth $1,301,682,000 after purchasing an additional 5,880,242 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new position in shares of Automatic Data Processing in the second quarter worth about $776,199,000. Millennium Management LLC increased its stake in shares of Automatic Data Processing by 328.6% in the second quarter. Millennium Management LLC now owns 2,221,504 shares of the business services provider’s stock worth $297,993,000 after purchasing an additional 1,703,162 shares in the last quarter. Senator Investment Group LP purchased a new position in shares of Automatic Data Processing in the second quarter worth about $174,382,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Automatic Data Processing in the third quarter worth about $156,978,000. 77.89% of the stock is currently owned by institutional investors.
Several brokerages recently commented on ADP. Zacks Investment Research reaffirmed a “buy” rating and set a $146.00 price objective on shares of Automatic Data Processing in a research note on Monday, December 31st. Moffett Nathanson initiated coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They set a “buy” rating and a $180.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Automatic Data Processing in a research report on Monday, October 1st. They set a “hold” rating and a $160.00 target price for the company. BMO Capital Markets dropped their target price on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research report on Thursday, November 1st. Finally, Citigroup lifted their target price on shares of Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $151.87.
NASDAQ:ADP traded down $1.17 during midday trading on Friday, reaching $131.29. 8,529 shares of the stock traded hands, compared to its average volume of 2,578,159. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $57.53 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.00 and a beta of 0.95.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.09. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. As a group, analysts anticipate that Automatic Data Processing will post 5.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th were given a dividend of $0.79 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, December 13th. Automatic Data Processing’s payout ratio is presently 72.64%.
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Automatic Data Processing 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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