Teachers Advisors LLC lowered its position in shares of Automatic Data Processing (NASDAQ:ADP) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 733,917 shares of the business services provider’s stock after selling 10,700 shares during the quarter. Teachers Advisors LLC owned approximately 0.17% of Automatic Data Processing worth $86,008,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of ADP. Carnegie Capital Asset Management LLC grew its position in Automatic Data Processing by 0.4% in the second quarter. Carnegie Capital Asset Management LLC now owns 14,426 shares of the business services provider’s stock worth $1,663,000 after acquiring an additional 52 shares during the period. Farmers National Bank grew its position in Automatic Data Processing by 4.0% in the second quarter. Farmers National Bank now owns 1,917 shares of the business services provider’s stock worth $196,000 after acquiring an additional 73 shares during the period. Barr E S & Co. lifted its stake in Automatic Data Processing by 4.8% during the second quarter. Barr E S & Co. now owns 2,200 shares of the business services provider’s stock worth $225,000 after purchasing an additional 100 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in Automatic Data Processing by 4.4% during the second quarter. Salem Investment Counselors Inc. now owns 3,545 shares of the business services provider’s stock worth $363,000 after purchasing an additional 149 shares in the last quarter. Finally, Rikoon Group LLC lifted its stake in Automatic Data Processing by 4.3% during the second quarter. Rikoon Group LLC now owns 3,609 shares of the business services provider’s stock worth $371,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.
Shares of Automatic Data Processing (ADP) opened at $116.10 on Thursday. Automatic Data Processing has a 52 week low of $95.50 and a 52 week high of $125.24. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $52,035.43, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.58 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is presently 65.45%.
In related news, VP Stuart Sackman sold 238 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $121.65, for a total transaction of $28,952.70. Following the transaction, the vice president now owns 18,676 shares of the company’s stock, valued at $2,271,935.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald Weinstein sold 2,275 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $263,968.25. Following the transaction, the vice president now directly owns 27,399 shares in the company, valued at approximately $3,179,105.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,666 shares of company stock worth $25,650,681. 0.25% of the stock is owned by insiders.
A number of research analysts have commented on the company. BidaskClub upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Goldman Sachs Group upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.02 to $135.00 in a research note on Monday, December 11th. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Tuesday, January 23rd. Finally, Barclays increased their price objective on Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $118.43.
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Automatic Data Processing Company 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.
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