Howland Capital Management LLC lifted its position in Automatic Data Processing (NASDAQ:ADP) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 100,329 shares of the business services provider’s stock after acquiring an additional 4,815 shares during the quarter. Automatic Data Processing comprises approximately 1.2% of Howland Capital Management LLC’s portfolio, making the stock its 28th largest holding. Howland Capital Management LLC’s holdings in Automatic Data Processing were worth $17,106,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Horan Capital Advisors LLC. purchased a new stake in Automatic Data Processing during the third quarter valued at about $31,000. Savior LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $43,000. Gradient Investments LLC lifted its holdings in Automatic Data Processing by 126.2% during the third quarter. Gradient Investments LLC now owns 276 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 154 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Automatic Data Processing during the third quarter valued at about $48,000. Finally, Usca Ria LLC purchased a new stake in Automatic Data Processing during the third quarter valued at about $52,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.
In other Automatic Data Processing news, VP Don Mcguire sold 326 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $172.07, for a total transaction of $56,094.82. Following the transaction, the vice president now directly owns 6,916 shares in the company, valued at $1,190,036.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald Weinstein sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.08, for a total transaction of $340,160.00. Following the transaction, the vice president now owns 25,710 shares in the company, valued at $4,372,756.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,381 shares of company stock worth $9,722,333. 0.31% of the stock is owned by company insiders.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. Automatic Data Processing’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.20 earnings per share. Sell-side analysts forecast that Automatic Data Processing will post 6.16 EPS for the current fiscal year.
Automatic Data Processing declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, March 12th. Automatic Data Processing’s dividend payout ratio (DPR) is 66.79%.
Several equities research analysts have commented on the stock. ValuEngine raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Citigroup upped their price objective on shares of Automatic Data Processing from $170.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Moffett Nathanson downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Tuesday, January 7th. Finally, Evercore ISI raised shares of Automatic Data Processing from an “in-line” rating to an “outperform” rating and set a $212.00 price objective on the stock in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $185.70.
Automatic Data Processing Company 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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