Willis Investment Counsel Sells 34,300 Shares of Automatic Data Processing (NASDAQ:ADP)

Willis Investment Counsel reduced its position in Automatic Data Processing (NASDAQ:ADP) by 37.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,600 shares of the business services provider’s stock after selling 34,300 shares during the quarter. Willis Investment Counsel’s holdings in Automatic Data Processing were worth $6,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Vanguard Group Inc. grew its holdings in shares of Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after purchasing an additional 811,960 shares during the period. BlackRock Inc. raised its position in Automatic Data Processing by 0.8% in the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after purchasing an additional 237,439 shares in the last quarter. Wells Fargo & Company MN raised its position in Automatic Data Processing by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after purchasing an additional 190,717 shares in the last quarter. Polen Capital Management LLC raised its position in Automatic Data Processing by 6.6% in the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after purchasing an additional 411,369 shares in the last quarter. Finally, Fundsmith LLP raised its position in Automatic Data Processing by 29.0% in the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after purchasing an additional 1,164,972 shares in the last quarter. 78.67% of the stock is owned by hedge funds and other institutional investors.

ADP has been the topic of several research analyst reports. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada reissued a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 target price on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $114.64.

In other news, VP Donald Weinstein sold 2,275 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total transaction of $263,968.25. Following the sale, the vice president now directly owns 27,399 shares in the company, valued at approximately $3,179,105.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Jones III sold 5,688 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $659,978.64. Following the completion of the sale, the director now owns 53,956 shares in the company, valued at $6,260,514.68. The disclosure for this sale can be found here. Insiders have sold 115,505 shares of company stock worth $13,612,788 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $117.18 on Friday. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $121.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $51,970.00, a PE ratio of 29.74, a PEG ratio of 2.93 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. Automatic Data Processing’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. research analysts expect that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

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

TRADEMARK VIOLATION WARNING: “Willis Investment Counsel Sells 34,300 Shares of Automatic Data Processing (NASDAQ:ADP)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://stocknewstimes.com/2018/01/12/automatic-data-processing-adp-shares-sold-by-willis-investment-counsel.html.

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.

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply