Abner Herrman & Brock LLC Grows Stake in Automatic Data Processing (ADP)

Abner Herrman & Brock LLC lifted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,405 shares of the business services provider’s stock after acquiring an additional 3,625 shares during the quarter. Automatic Data Processing accounts for 2.8% of Abner Herrman & Brock LLC’s portfolio, making the stock its 14th largest holding. Abner Herrman & Brock LLC’s holdings in Automatic Data Processing were worth $15,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Captrust Financial Advisors boosted its position in shares of Automatic Data Processing by 199.3% in the third quarter. Captrust Financial Advisors now owns 4,750 shares of the business services provider’s stock worth $719,000 after buying an additional 3,163 shares during the period. Moneta Group Investment Advisors LLC boosted its position in Automatic Data Processing by 22,962.3% during the second quarter. Moneta Group Investment Advisors LLC now owns 230,623 shares of the business services provider’s stock valued at $1,126,000 after purchasing an additional 229,623 shares during the last quarter. Centaurus Financial Inc. boosted its position in Automatic Data Processing by 31.5% during the second quarter. Centaurus Financial Inc. now owns 2,522 shares of the business services provider’s stock valued at $338,000 after purchasing an additional 604 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Automatic Data Processing during the second quarter valued at $3,147,000. Finally, BLB&B Advisors LLC boosted its position in Automatic Data Processing by 2.6% during the third quarter. BLB&B Advisors LLC now owns 42,162 shares of the business services provider’s stock valued at $6,352,000 after purchasing an additional 1,059 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

NASDAQ ADP traded down $1.59 during trading on Friday, hitting $130.87. 572,037 shares of the company 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 debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $57.53 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.95.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing will post 5.27 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th were issued a dividend of $0.79 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a yield of 2.41%. The ex-dividend date was Thursday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays assumed coverage on Automatic Data Processing in a research report on Wednesday, November 14th. They set an “overweight” rating and a $168.00 price objective for the company. Jefferies Financial Group lifted their price objective on Automatic Data Processing to $167.00 and gave the company a “hold” rating in a research report on Thursday, November 1st. BMO Capital Markets reduced their price objective on 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 price objective on 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 equities 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 stock presently has an average rating of “Buy” and a consensus price target of $151.87.

In other news, CEO Carlos A. Rodriguez sold 101,620 shares of Automatic Data Processing stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $147.46, for a total value of $14,984,885.20. Following the transaction, the chief executive officer now directly owns 199,405 shares in the company, valued at $29,404,261.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 62,228 shares of Automatic Data Processing stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $145.59, for a total value of $9,059,774.52. Following the completion of the transaction, the chief executive officer now owns 137,177 shares in the company, valued at $19,971,599.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,716 shares of company stock worth $28,606,425. Corporate insiders own 0.33% of the company’s stock.

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

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