Tufton Capital Management lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,769 shares of the business services provider’s stock after selling 263 shares during the period. Automatic Data Processing makes up 3.0% of Tufton Capital Management’s portfolio, making the stock its 6th biggest position. Tufton Capital Management’s holdings in Automatic Data Processing were worth $16,033,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in ADP. Accredited Investors Inc. increased its holdings in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after buying an additional 2,264,202 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after purchasing an additional 479,145 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after purchasing an additional 424,328 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on ADP shares. TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays increased their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho raised their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $293.55.
Insider Buying and Selling
In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 over the last ninety days. Company insiders own 0.21% of the company’s stock.
Automatic Data Processing Trading Down 0.0 %
Shares of NASDAQ:ADP opened at $311.30 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $315.29. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $300.24 and its 200 day simple moving average is $291.53. The firm has a market cap of $126.84 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 3.62 and a beta of 0.79.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.
Automatic Data Processing Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s payout ratio is 64.23%.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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