Northstar Investment Advisors LLC reduced its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 105,563 shares of the business services provider’s stock after selling 2,744 shares during the period. Automatic Data Processing makes up about 3.0% of Northstar Investment Advisors LLC’s holdings, making the stock its 5th largest holding. Northstar Investment Advisors LLC’s holdings in Automatic Data Processing were worth $13,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Automatic Data Processing by 8.1% in the second quarter. FMR LLC now owns 756,868 shares of the business services provider’s stock valued at $101,526,000 after purchasing an additional 56,414 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Automatic Data Processing in the second quarter valued at $782,000. OppenheimerFunds Inc. grew its holdings in shares of Automatic Data Processing by 105.8% in the second quarter. OppenheimerFunds Inc. now owns 20,772 shares of the business services provider’s stock valued at $2,786,000 after purchasing an additional 10,681 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Automatic Data Processing in the second quarter valued at $604,000. Finally, Voya Investment Management LLC grew its holdings in shares of Automatic Data Processing by 1.7% in the second quarter. Voya Investment Management LLC now owns 165,154 shares of the business services provider’s stock valued at $22,153,000 after purchasing an additional 2,730 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 101,620 shares of Automatic Data Processing stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $147.46, for a total value of $14,984,885.20. Following the transaction, the chief executive officer now owns 199,405 shares in the company, valued at $29,404,261.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 62,228 shares of Automatic Data Processing stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $145.59, for a total value of $9,059,774.52. Following the completion of the transaction, the chief executive officer now owns 137,177 shares in the company, valued at approximately $19,971,599.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,716 shares of company stock worth $28,606,425. Insiders own 0.33% of the company’s stock.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.11 by $0.09. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, equities research analysts predict that Automatic Data Processing will post 5.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.41%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s dividend payout ratio (DPR) is currently 72.64%.
A number of analysts recently issued reports on the company. Zacks Investment Research restated a “hold” rating on shares of Automatic Data Processing in a research report on Monday, November 12th. Jefferies Financial Group raised their price target on Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a research report on Thursday, November 1st. Citigroup raised their price target on Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, November 1st. Moffett Nathanson assumed coverage on Automatic Data Processing in a research report on Thursday, October 4th. They issued a “buy” rating and a $180.00 price target for the company. Finally, BMO Capital Markets lowered their price target on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research report on Thursday, November 1st. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $151.87.
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Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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