Westwood Holdings Group Inc. maintained its stake in shares of Automatic Data Processing (NYSE:ADP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,570 shares of the business services provider’s stock at the end of the fourth quarter. Westwood Holdings Group Inc.’s holdings in Automatic Data Processing were worth $161,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ADP. City Holding Co. increased its stake in shares of Automatic Data Processing by 19.6% in the third quarter. City Holding Co. now owns 30,091 shares of the business services provider’s stock worth $2,654,000 after buying an additional 4,925 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Automatic Data Processing by 21.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 114,956 shares of the business services provider’s stock worth $10,139,000 after buying an additional 20,264 shares in the last quarter. Reilly Herbert Faulkner III increased its stake in Automatic Data Processing by 3.6% in the third quarter. Reilly Herbert Faulkner III now owns 46,075 shares of the business services provider’s stock worth $4,064,000 after buying an additional 1,602 shares in the last quarter. Raymond James Trust N.A. increased its stake in Automatic Data Processing by 7.3% in the third quarter. Raymond James Trust N.A. now owns 45,798 shares of the business services provider’s stock worth $4,040,000 after buying an additional 3,112 shares in the last quarter. Finally, Creative Planning increased its stake in Automatic Data Processing by 15.6% in the third quarter. Creative Planning now owns 37,918 shares of the business services provider’s stock worth $3,344,000 after buying an additional 5,110 shares in the last quarter.
Shares of Automatic Data Processing (NYSE:ADP) traded up 0.95% during midday trading on Thursday, reaching $103.04. The company’s stock had a trading volume of 1,218,209 shares. The company has a market cap of $46.25 billion and a PE ratio of 27.68. The company’s 50-day moving average price is $103.09 and its 200-day moving average price is $98.02. Automatic Data Processing has a 12 month low of $84.36 and a 12 month high of $105.20.
Automatic Data Processing (NYSE:ADP) last posted its earnings results on Wednesday, February 1st. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. The firm earned $3 billion during the quarter, compared to analyst estimates of $3.02 billion. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, equities analysts anticipate that Automatic Data Processing will post $3.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.28 annualized dividend and a yield of 2.21%.
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Several brokerages have recently weighed in on ADP. BMO Capital Markets reiterated a “hold” rating and issued a $98.00 price target on shares of Automatic Data Processing in a research report on Wednesday, April 5th. William Blair reiterated an “outperform” rating on shares of Automatic Data Processing in a research report on Tuesday, February 7th. Argus reiterated a “buy” rating and issued a $118.00 price target on shares of Automatic Data Processing in a research report on Sunday, February 5th. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, February 2nd. Finally, Stifel Nicolaus reduced their price target on Automatic Data Processing from $105.00 to $95.00 and set a “hold” rating for the company in a research report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Automatic Data Processing currently has an average rating of “Hold” and an average target price of $102.54.
In other news, VP Thomas J. Perrotti sold 2,868 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $105.02, for a total value of $301,197.36. Following the transaction, the vice president now directly owns 15,371 shares in the company, valued at approximately $1,614,262.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 79,606 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $98.95, for a total transaction of $7,877,013.70. Following the completion of the transaction, the chief executive officer now owns 156,085 shares in the company, valued at $15,444,610.75. The disclosure for this sale can be found here. Insiders sold a total of 185,761 shares of company stock worth $18,521,656 over the last quarter.
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.
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