Automatic Data Processing (ADP) is Kidder Stephen W’s 4th Largest Position
Kidder Stephen W trimmed its position in shares of Automatic Data Processing (NASDAQ:ADP) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,847 shares of the business services provider’s stock after selling 3,357 shares during the period. Automatic Data Processing comprises 3.7% of Kidder Stephen W’s holdings, making the stock its 4th biggest holding. Kidder Stephen W’s holdings in Automatic Data Processing were worth $10,039,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in ADP. BlackRock Inc. grew its position in Automatic Data Processing by 1,971.2% during the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares during the period. Janus Henderson Group PLC lifted its holdings in Automatic Data Processing by 5,962.5% during the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after purchasing an additional 3,947,657 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after buying an additional 1,430,863 shares in the last quarter. Fundsmith LLP lifted its stake in shares of Automatic Data Processing by 29.0% in the second 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Automatic Data Processing by 671.9% in the second 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 in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Sanford C. Bernstein lifted their target price on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Barclays lifted their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Bank of America upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $112.37.
Automatic Data Processing (NASDAQ ADP) opened at $115.92 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $51,302.89, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.96 and a beta of 0.85. Automatic Data Processing has a one year low of $94.11 and a one year high of $121.77.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. analysts predict that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be paid a dividend of $0.63 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s payout ratio is currently 58.02%.
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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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