Automatic Data Processing (ADP) Shares Sold by Citizens Financial Group Inc RI

Citizens Financial Group Inc RI trimmed its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,518 shares of the business services provider’s stock after selling 500 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Automatic Data Processing were worth $3,811,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ADP. Pershing Square Capital Management L.P. increased its position in shares of Automatic Data Processing by 402.5% during the third quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after purchasing an additional 7,047,575 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Automatic Data Processing by 5,962.5% during the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock worth $411,260,000 after purchasing an additional 3,947,657 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Automatic Data Processing by 42,776.7% during the third quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock worth $150,509,000 after purchasing an additional 1,373,560 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Automatic Data Processing by 42.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,993,394 shares of the business services provider’s stock worth $467,986,000 after purchasing an additional 1,199,402 shares in the last quarter. Finally, Fundsmith LLP increased its position in shares of Automatic Data Processing by 29.0% during the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after purchasing an additional 1,164,972 shares in the last quarter. 78.84% of the stock is owned by institutional investors and hedge funds.

Several analysts recently commented on the company. Barclays boosted their price target on Automatic Data Processing from $121.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Stifel Nicolaus upped their target price on Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a report on Thursday, February 1st. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a report on Tuesday, January 23rd. BidaskClub upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada restated a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $118.43.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $116.18 on Tuesday. The stock has a market capitalization of $51,499.07, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a twelve month low of $95.50 and a twelve month high of $125.24.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS. equities research analysts anticipate that Automatic Data Processing will post 4.17 earnings per share for the current year.

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

In other news, CEO Carlos A. Rodriguez sold 69,899 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the completion of the transaction, the chief executive officer now directly owns 161,085 shares in the company, valued at approximately $18,088,234.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the stock in a transaction 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 of the company’s stock, valued at $14,728,420.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,666 shares of company stock valued at $25,650,681. Company insiders own 0.25% of the company’s stock.

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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.

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

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