Automatic Data Processing (ADP) Shares Sold by Bowen Hanes & Co. Inc.
Bowen Hanes & Co. Inc. decreased its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 296,376 shares of the business services provider’s stock after selling 7,220 shares during the period. Automatic Data Processing comprises about 1.6% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 26th biggest holding. Bowen Hanes & Co. Inc.’s holdings in Automatic Data Processing were worth $34,732,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Legacy Advisors LLC bought a new position in Automatic Data Processing in the fourth quarter worth about $103,000. Calton & Associates Inc. bought a new position in Automatic Data Processing in the fourth quarter worth about $118,000. Acrospire Investment Management LLC bought a new position in Automatic Data Processing in the second quarter worth about $102,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $117,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $114,000. 78.84% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on ADP shares. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research note on Friday, January 5th. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday, November 15th. Royal Bank of Canada dropped their price target on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Monday, November 6th. BidaskClub upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Citigroup restated a “neutral” rating and issued a $118.00 price target (up previously from $110.00) on shares of Automatic Data Processing in a research note on Friday, January 12th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $118.43.
Automatic Data Processing (ADP) opened at $113.60 on Friday. Automatic Data Processing has a 12 month low of $95.50 and a 12 month high of $125.24. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $50,355.47, a P/E ratio of 29.43, a P/E/G ratio of 2.48 and a beta of 0.90.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. research analysts expect that Automatic Data Processing will post 4.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.22%. Automatic Data Processing’s dividend payout ratio is presently 65.45%.
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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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