Family Firm Inc. Acquires New Position in Automatic Data Processing (ADP)
Family Firm Inc. acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,511 shares of the business services provider’s stock, valued at approximately $241,000.
Other large investors also recently added to or reduced their stakes in the company. Lunia Capital LP lifted its stake in Automatic Data Processing by 14,251.9% in the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after acquiring an additional 18,239,702 shares during the period. Parallel Advisors LLC lifted its stake in Automatic Data Processing by 14.9% in the first quarter. Parallel Advisors LLC now owns 6,113 shares of the business services provider’s stock worth $977,000 after acquiring an additional 791 shares during the period. Fiera Capital Corp lifted its stake in Automatic Data Processing by 77.3% in the fourth quarter. Fiera Capital Corp now owns 5,287 shares of the business services provider’s stock worth $693,000 after acquiring an additional 2,305 shares during the period. Stifel Financial Corp lifted its stake in Automatic Data Processing by 7.3% in the fourth quarter. Stifel Financial Corp now owns 664,894 shares of the business services provider’s stock worth $87,052,000 after acquiring an additional 45,318 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Automatic Data Processing by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 330,189 shares of the business services provider’s stock worth $43,385,000 after acquiring an additional 1,376 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Jan Siegmund sold 27,272 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the completion of the transaction, the insider now directly owns 77,595 shares in the company, valued at $12,803,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stuart Sackman sold 1,478 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $155.13, for a total value of $229,282.14. Following the transaction, the vice president now owns 24,122 shares of the company’s stock, valued at $3,742,045.86. The disclosure for this sale can be found here. Insiders have sold 30,456 shares of company stock valued at $5,010,669 in the last three months. Insiders own 0.33% of the company’s stock.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.69 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.91 billion. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. Sell-side analysts anticipate that Automatic Data Processing will post 5.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.
A number of analysts recently commented on the company. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Citigroup raised their price target on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Sanford C. Bernstein lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Finally, Barclays raised their price objective on Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Buy” and an average target price of $159.00.
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About Automatic Data Processing
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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