Tocqueville Asset Management L.P. lessened its stake in Automatic Data Processing (NASDAQ:ADP) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 214,359 shares of the business services provider’s stock after selling 14,739 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Automatic Data Processing were worth $36,548,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Nuveen Asset Management LLC lifted its stake in Automatic Data Processing by 40,836.2% during the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock worth $780,281,000 after purchasing an additional 4,708,009 shares during the last quarter. Vanguard Group Inc. lifted its stake in Automatic Data Processing by 1.7% during the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after purchasing an additional 644,178 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Automatic Data Processing by 222.9% during the third quarter. Eagle Asset Management Inc. now owns 807,822 shares of the business services provider’s stock worth $130,398,000 after purchasing an additional 557,645 shares during the last quarter. Morgan Stanley lifted its stake in Automatic Data Processing by 6.5% during the second quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock worth $1,391,241,000 after purchasing an additional 516,484 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Automatic Data Processing by 1.2% during the second quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock worth $5,117,899,000 after purchasing an additional 368,108 shares during the last quarter. Institutional investors and hedge funds own 80.05% of the company’s stock.

Shares of NASDAQ:ADP traded down $1.13 during trading on Tuesday, reaching $171.23. The company had a trading volume of 1,533,806 shares, compared to its average volume of 1,304,867. The firm has a market capitalization of $74.03 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $169.82 and its 200 day moving average price is $165.96. Automatic Data Processing has a fifty-two week low of $130.95 and a fifty-two week high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.01. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. On average, equities analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 12th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.79. Automatic Data Processing’s dividend payout ratio is currently 66.79%.

Automatic Data Processing announced that its board has authorized a stock buyback plan on Tuesday, November 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Several equities research analysts recently weighed in on ADP shares. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, December 5th. Citigroup boosted their target price on Automatic Data Processing from $170.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday. Moffett Nathanson cut Automatic Data Processing from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 7th. Wolfe Research cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 31st. Finally, Credit Suisse Group restated a “buy” rating and set a $185.00 target price on shares of Automatic Data Processing in a research note on Monday, November 4th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $182.11.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 48,571 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $168.51, for a total value of $8,184,699.21. Following the sale, the chief executive officer now owns 144,899 shares of the company’s stock, valued at $24,416,930.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $170.08, for a total value of $340,160.00. Following the completion of the sale, the vice president now directly owns 25,710 shares in the company, valued at approximately $4,372,756.80. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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