Guardian Capital LP Buys 3,397 Shares of Automatic Data Processing (ADP)

Guardian Capital LP increased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,484 shares of the business services provider’s stock after purchasing an additional 3,397 shares during the quarter. Guardian Capital LP’s holdings in Automatic Data Processing were worth $19,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pershing Square Capital Management L.P. raised its stake in shares of Automatic Data Processing by 402.5% during the 3rd 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 buying an additional 7,047,575 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Automatic Data Processing by 5,962.5% during the 2nd quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock worth $411,260,000 after buying an additional 3,947,657 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Automatic Data Processing by 42,776.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock worth $150,509,000 after buying an additional 1,373,560 shares during the last quarter. Fundsmith LLP raised its stake in shares of Automatic Data Processing by 29.0% during the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after buying an additional 1,164,972 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Automatic Data Processing by 671.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock worth $127,574,000 after buying an additional 1,083,799 shares during the last quarter. 78.67% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Michael A. Bonarti sold 3,900 shares of the business’s 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 $452,517.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 2,275 shares of the company’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 $263,968.25. Following the completion of the transaction, the vice president now directly owns 27,399 shares in the company, valued at $3,179,105.97. The disclosure for this sale can be found here. Insiders have sold a total of 11,863 shares of company stock valued at $1,376,464 in the last quarter. Company insiders own 0.25% of the company’s stock.

ADP has been the subject of several research reports. BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Morgan Stanley upgraded Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective for the company in a research report on Tuesday, November 14th. Sanford C. Bernstein lifted their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Finally, Goldman Sachs Group upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.02 to $135.00 in a research report on Monday, December 11th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $114.14.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $117.25 on Thursday. 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 company has a market capitalization of $52,000.00, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85. Automatic Data Processing has a fifty-two week low of $94.11 and a fifty-two week high of $121.77.

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

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

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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.

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

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