Victory Capital Management Inc. Has $3.08 Million Position in Automatic Data Processing (ADP)

Victory Capital Management Inc. increased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,239 shares of the business services provider’s stock after acquiring an additional 1,526 shares during the period. Victory Capital Management Inc.’s holdings in Automatic Data Processing were worth $3,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Legacy Advisors LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $103,000. Acrospire Investment Management LLC acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $102,000. Wealthcare Advisory Partners LLC acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $114,000. Cerebellum GP LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $129,000. Finally, Family Capital Trust Co acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $137,000. 78.84% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Donald Weinstein sold 3,242 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total transaction of $405,250.00. Following the transaction, the vice president now owns 28,366 shares in the company, valued at $3,545,750. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the transaction, the chief executive officer now owns 124,722 shares in the company, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,666 shares of company stock worth $25,650,681. 0.25% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on the company. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Wednesday, November 8th. Barclays lifted their price target on Automatic Data Processing from $121.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. BMO Capital Markets lowered their price target on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Finally, Bank of America raised Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $118.43.

Automatic Data Processing (ADP) opened at $116.18 on Monday. Automatic Data Processing has a 1 year low of $95.50 and a 1 year high of $125.24. The company has a market capitalization of $51,499.07, a P/E ratio of 30.10, a P/E/G ratio of 2.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. analysts forecast that Automatic Data Processing will post 4.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. Automatic Data Processing’s payout ratio is 65.45%.

TRADEMARK VIOLATION NOTICE: “Victory Capital Management Inc. Has $3.08 Million Position in Automatic Data Processing (ADP)” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of international copyright & trademark laws. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2018/02/19/victory-capital-management-inc-has-3-08-million-position-in-automatic-data-processing-adp.html.

Automatic Data Processing Profile

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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

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