Automatic Data Processing (ADP) Holdings Trimmed by Gabelli Funds LLC
Gabelli Funds LLC lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,500 shares of the business services provider’s stock after selling 1,500 shares during the period. Gabelli Funds LLC’s holdings in Automatic Data Processing were worth $5,032,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Lunia Capital LP raised its stake in Automatic Data Processing by 14,251.9% during the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after purchasing an additional 18,239,702 shares during the period. Fiera Capital Corp raised its stake in Automatic Data Processing by 77.3% during the fourth quarter. Fiera Capital Corp now owns 5,287 shares of the business services provider’s stock worth $693,000 after purchasing an additional 2,305 shares during the period. Stifel Financial Corp raised its stake in Automatic Data Processing by 7.3% during the fourth quarter. Stifel Financial Corp now owns 664,894 shares of the business services provider’s stock worth $87,052,000 after purchasing an additional 45,318 shares during the period. Thrivent Financial for Lutherans raised its stake in Automatic Data Processing by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 330,189 shares of the business services provider’s stock worth $43,385,000 after purchasing an additional 1,376 shares during the period. Finally, Doyle Wealth Management purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $148,000. 81.20% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ADP. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Barclays increased their price objective on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Citigroup increased their price objective on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Sanford C. Bernstein lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $159.00.
Automatic Data Processing stock opened at $158.51 on Thursday. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $165.50. The firm has a market capitalization of $68.77 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.38.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.08. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 earnings per share. Research analysts anticipate that Automatic Data Processing will post 5.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s payout ratio is 72.64%.
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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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