Court Place Advisors LLC Decreases Position in Automatic Data Processing (ADP)
Court Place Advisors LLC decreased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,182 shares of the business services provider’s stock after selling 1,012 shares during the period. Automatic Data Processing accounts for 3.7% of Court Place Advisors LLC’s holdings, making the stock its 3rd biggest position. Court Place Advisors LLC’s holdings in Automatic Data Processing were worth $8,219,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. Providence First Trust Co acquired a new position in Automatic Data Processing during the 3rd quarter valued at approximately $2,138,000. Toronto Dominion Bank increased its stake in Automatic Data Processing by 10.9% during the 3rd quarter. Toronto Dominion Bank now owns 173,785 shares of the business services provider’s stock valued at $18,996,000 after purchasing an additional 17,106 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Automatic Data Processing by 2.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,601,051 shares of the business services provider’s stock valued at $175,027,000 after purchasing an additional 37,789 shares in the last quarter. R. G. Niederhoffer Capital Management Inc. acquired a new position in Automatic Data Processing during the 3rd quarter valued at approximately $219,000. Finally, Cedar Capital LLC increased its stake in Automatic Data Processing by 48.9% during the 3rd quarter. Cedar Capital LLC now owns 3,695 shares of the business services provider’s stock valued at $404,000 after purchasing an additional 1,213 shares in the last quarter. 78.78% of the stock is owned by institutional investors.
ADP has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Deutsche Bank restated a “hold” rating and set a $102.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday, November 15th. Evercore ISI restated an “in-line” rating and set a $115.00 price target on shares of Automatic Data Processing in a research note on Sunday, August 20th. Finally, Bank of America upped their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.17.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at $118.19 on Friday. The firm has a market cap of $51,897.16, a price-to-earnings ratio of 31.29, a PEG ratio of 2.90 and a beta of 0.85. Automatic Data Processing has a 52 week low of $94.11 and a 52 week high of $121.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be paid a $0.63 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio is presently 64.12%.
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.
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