Bridges Investment Management Inc. lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 8.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,924 shares of the business services provider’s stock after selling 897 shares during the quarter. Bridges Investment Management Inc.’s holdings in Automatic Data Processing were worth $1,692,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Wealth Quarterback LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $5,301,510,000. Goldman Sachs Group Inc. grew its position in Automatic Data Processing by 34.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,290,183 shares of the business services provider’s stock worth $560,975,000 after acquiring an additional 842,216 shares in the last quarter. Alliancebernstein L.P. increased its stake in Automatic Data Processing by 8.7% during the fourth quarter. Alliancebernstein L.P. now owns 7,539,229 shares of the business services provider’s stock worth $1,285,439,000 after acquiring an additional 600,396 shares during the last quarter. Stifel Financial Corp increased its stake in Automatic Data Processing by 68.5% during the fourth quarter. Stifel Financial Corp now owns 1,232,353 shares of the business services provider’s stock worth $210,423,000 after acquiring an additional 501,153 shares during the last quarter. Finally, UBS Group AG raised its position in Automatic Data Processing by 38.0% during the fourth quarter. UBS Group AG now owns 1,251,500 shares of the business services provider’s stock valued at $213,381,000 after purchasing an additional 344,338 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.
Several equities research analysts have recently issued reports on ADP shares. Citigroup raised their price objective on Automatic Data Processing from $170.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI upgraded Automatic Data Processing from an “in-line” rating to an “outperform” rating and set a $212.00 price target on the stock in a report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on shares of Automatic Data Processing from $145.00 to $137.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, ValuEngine upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $181.90.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Automatic Data Processing had a net margin of 16.97% and a return on equity of 46.96%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the company earned $1.34 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Automatic Data Processing will post 6.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.91 per share. The ex-dividend date is Thursday, March 12th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.97%. Automatic Data Processing’s dividend payout ratio is presently 66.79%.
In other Automatic Data Processing news, VP Deborah L. Dyson sold 3,250 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $176.67, for a total transaction of $574,177.50. Following the transaction, the vice president now directly owns 18,304 shares in the company, valued at approximately $3,233,767.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald Weinstein sold 2,468 shares of Automatic Data Processing stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $180.00, for a total value of $444,240.00. Following the sale, the vice president now directly owns 26,578 shares of the company’s stock, valued at $4,784,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,528 shares of company stock valued at $2,556,051. 0.31% of the stock is owned by corporate insiders.
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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