Automatic Data Processing (ADP) Shares Sold by Leavell Investment Management Inc.

Leavell Investment Management Inc. lowered its stake in Automatic Data Processing (NASDAQ:ADP) by 17.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,949 shares of the business services provider’s stock after selling 4,800 shares during the quarter. Leavell Investment Management Inc.’s holdings in Automatic Data Processing were worth $2,689,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pershing Square Capital Management L.P. raised its position in shares of Automatic Data Processing by 402.5% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after buying an additional 7,047,575 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Automatic Data Processing by 5,962.5% during the 2nd quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after buying an additional 3,947,657 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Automatic Data Processing by 42,776.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock valued at $150,509,000 after buying an additional 1,373,560 shares in the last quarter. Fundsmith LLP raised its position in shares of Automatic Data Processing by 29.0% during the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after buying an additional 1,164,972 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Automatic Data Processing by 671.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock valued at $127,574,000 after buying an additional 1,083,799 shares in the last quarter. Institutional investors and hedge funds own 78.67% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $117.18 on Friday. 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 has a 1 year low of $94.11 and a 1 year high of $121.77. The firm has a market cap of $51,970.00, a PE ratio of 29.74, a P/E/G ratio of 2.93 and a beta of 0.85.

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 for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 8th were given a $0.63 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is 63.96%.

ADP has been the topic of several recent research reports. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. BMO Capital Markets decreased their target price on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America upped their target price on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Finally, Morgan Stanley upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 target price on the stock in a research report on Tuesday, November 14th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $114.64.

In other Automatic Data Processing news, insider Michael A. Bonarti sold 3,900 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $452,517.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the completion of the transaction, the chief executive officer now owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. Insiders sold a total of 115,505 shares of company stock worth $13,612,788 over the last 90 days. Insiders own 0.25% of the company’s stock.

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

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